Intraday Technical Analysis and Trading Stretegy / Tips for 14 Oct 2009 www.StockInspection.com
Posted by Indrodeep Banerjee on October 12, 2009
Total Views - 2040
On Monday markets opened on a strong note with gap up opening on positive cues from the global markets and better than expected IIP data along with strong European markets managed to pull the markets up with continuing buying momentum.
Markets witnessed strong buying across all the sectors. Strong European markets along with better than expected IIP data further added to the positive investor sentiments.
After the breakout above the resistance level of 5000, bulls got into the drivers seat of the markets and pulled the markets to close with huge gaind near the day’s high.
Nifty finally closed at 5054.25
gaining 109 points or 2.21 %
Trading Strategy for 14 Oct, 2009
Intraday Support for the market shall be 4998 & 4961.
While the market will experience resistance at 5088 & 5119.
Best Strategy shall be to:-
Buy above 5076 with Stop Loss of 5032
Sell below 5032 with Stop Loss of 5076
.
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