13 Nov 13, 10: 25 am
Step 1 : Market Analysis
Nifty : Down 2 pts
Cnx 500 : Down 1 pts
A : D : 1 : 1.3
Market Analysis says today is " sideways to mild bearish day "
Step 2 : Chart Analysis
Market gaped down 10 pts and filled the gap with opening bar, this implies mild bullishness. Nifty opened at 6000 which is support and bounced. Momentum indicator says bears are bit weaker and bulls are stronger. The trend on the 5 min charts is down and on pullback mode. The trend on the 30 min chart is also down.
Conclusion:
Look for shorts at resistance with tight stops, there is also chances of price changing trend.
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