NIFTY INTRADAY ANALYSIS - 29 NOV 13

Hi Traders,

29 Nov 13, 10 : 30 am

Step 1 : Market Analysis

Nifty       : up 84
Cnx 500 : up 64
A:D        : 3.5 : 1

Market Analysis says today is " Bullish or Up Day"

Step 2 : Chart Analysis
Market opened flat and which offered no clues on trend direction. Nifty broken out of the symmetric triangle upwards, this is sign on bullishness. Volume are not supporting, so be cautious. Momentum indicator says bulls are stronger. The trend on the 5 min chart is up and on extension mode. The on the 30 min chart is also up.

Conclusion
Trade long on corrections with tight stops, look for resistance zone at 6179 - 6213. 


Analysis:

 Today we haven't got any entry to trade long on nifty. Today is an another tough day to trade.