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.
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.
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