19 Nov 13, 10 : 25
Step 1 : Market Analysis
Nifty : up 15 pts
Cnx 500 : up 15 pts
A:D : 1.7 : 1
Market Analysis says today is "Mild Bullish Day "
Step 2 : Chart Analysis
Nifty opened flat, which gives no signal of trend direction. 6200 is previous resistance zone and now nifty is struck in that area. Momentum indicator gives no signal. The trend on the 5 min chart is up and on pullback to high. The trend on the 30 min chart is also up.
Conclusion:
Enter long at support with tight stops.
ANALYSIS
Today just price consolidated, if you look at the above chart, we marked a support line at 6185. Which failed to hold a price or offer us bounce to enter the trade. So, we would not enter the trade here. But price gave false breakout at support and moved higher. Still we didn't enter the trade.
0 comments:
Post a Comment