Intraday Technical Analysis and Trading Stretegy / Stock Tips for 16 Oct 2009 www.StockInspection.com
Posted by Indrodeep Banerjee on October 15, 2009
Total Views - 2149
On Thursday markets opened on a positive note with moderate gains on positive cues from the global and the Asian markets but could not sustain the early gains on profit bookings emerging early in the markets.
Markets witnessed volatility across all the sectors. Strong European markets further added to the positive investor sentiments which helped the markets from slipping further deep into the reds.
Markets finally managed to close flat amidst heavy volatility.
Nifty finally closed at 5108.85
loosing 9 points or 0.18 %
Trading Strategy for 16 Oct, 2009
Intraday Support for the market shall be 5068 & 5024.
While the market will experience resistance at 5144 & 5189.
Best Strategy shall be to:-
Buy above 5132 with Stop Loss of 5086
Sell below 5086 with Stop Loss of 5132
.
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