Thursday 12 December 2013

Hi Traders,

13 Dec 13, 10 : 40 am

Step 1 : Market Analysis

Nifty       : Down 45 pts
Cnx 500 : Down 31 pts
A:D        : 1 : 1.6

Market Analysis say today is " Mild Bearish Day "

Step 2 : Chart Analysis

Nifty gaped down 30 pts and never filled the gap, this says price will close below it open 70% of times. The price is trading between the opening bar. Momentum indicator shows bears are little stronger.The trend on the 5 min chart is down and on extension mode. The trend on the 30 min chart is also down.

Conclusion:
Look for shorts at support.

0 comments:

Post a Comment