Intraday Technical Analysis and Trading Stretegy / Stock Tips for 15 Oct 2009 www.StockInspection.com
Posted by Indrodeep Banerjee on October 14, 2009
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On Wednesday markets opened on a positive note with gap up opening on positive cues from the global markets and sustained with the early gains.
Markets witnessed sustained buying across all the sectors. Strong European markets further added to the positive investor sentiments.
Bulls got into the hold of the markets on strong IIP numbers and helped the markets to sustain all the day’s gain and closed near the day’s high, at its resistance of 5119 as calculated by us the previous day.
Nifty finally closed at 5118.20
gaining 64 points or 1.27 %
Trading Strategy for 15 Oct, 2009
Intraday Support for the market shall be 4968 & 4924.
While the market will experience resistance at 5158 & 5194.
Best Strategy shall be to:-
Buy above 5136 with Stop Loss of 5092
Sell below 5092 with Stop Loss of 5136
.
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