NIFTY INTRADAY ANALYSIS - 22 NOV 13 - TRADE ANALYSISED

Hi Traders,

22 Nov 13, 9 : 50 Am

Step 1 : Market Analysis

Nifty       : up 35 pts
Cnx 500 : up 31 pts
A:D        : 3.45 : 1

Market Analysis says today is " Bullish Day"

Step 2 : Chart Analysis
Nifty just opened flat, which offer us no clue about the trend direction. Momentum indicator is sightly bullish. The trend on the 5 min chart is up and on pullback to high. The trend on the 30 min chart is up (price hit support)

Conclusion
Look for long with tight stops ( there is a possibility of trend changing to sideways, so trade accordingly)

ANALYSIS:

 As per our second opinion, today nifty has formed a sideways trend.
If you look at the today's chart, we are always enter at support on pullback. Nifty never pulled back to any support till 2:50 and never showed the sighs of price reversing at support. so, we had no opportunity to trade.  If you didn't trade today, you are growing as great trader.