31 Oct 13, 10 : 10 Am
Step 1 : Market Analysis
Nifty : Down 7 pts
Cnx 500 : Down 2 pts.
A: D : 1.5 : 1
Nifty futures is trading with 2 points discount.
Market Analysis is giving confused signals.
Step 2 : Chart Analysis
Nifty just gaped down 12 pts and filled the entire gap with opening bar. Price is trading between the yesterdays high and low. Momentum indicator say bears are bit stronger and bulls are weak. The trend on 5 min chart is up but at all time high resistance zone, and on pullback mode. The trend on the 30 min chart is also up.
Conclusion:
Too many confused signals, so pls avoid trading or trade carefully. Remember " No trade is better than losing trade "
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