Intraday Technical Analysis with Nifty Technical Chart and Trading Stretegy / Stock Tips for 25 Nov 2009 www.StockInspection.com
Posted by Indrodeep Banerjee on November 24, 2009
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On Tuesday markets opened on a positive note but soon slipped into the reds on the back of negative cues from the other Asian markets.
Markets witnessed profit booking after the sharp rally of previous few trading session, but some buying came in around the support level which helped the markets to recover from the days low and end the day with marginal loss.
Markets finally managed to close with marginal loss after the days volatile trading session above 5 DMA with RSI above 70 indicating the room for further highs in the coming days but extreme volatility may prevail in the market before the fno expiry along wih huge short coverings which may pull the markets high amidst the volatility.
Nifty finally closed at 5090.55
loosing 13 points or 0.25 %
Trading Strategy for 25 Nov, 2009
Intraday Support for the market shall be 5036 & 4988.
While the market will experience resistance at 5138 & 5179.
Best Strategy shall be to:-
Buy above 5114 with Stop Loss of 5066
Sell below 5066 with Stop Loss of 5114
.
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