Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 7 Jan 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on January 6, 2010
Total Views - 575
On Tuesday markets closed on a flat note after marginally positive opening amidst a volatile trading session.
It closed above the 5 DMA and 20 DMA levels and RSI around 92 indicating a mild resistance around 5300 levels but some more volatility due to profit bookings is likely to be witnessed in the coming days for the markets before it decisively starts trading above 5300 mark.
Nifty finally closed at 5281.80
gaining 4 points or 0.07 %
Trading Strategy for 7 Jan, 2010
Intraday Support for the market shall be 5226 & 5184.
While the market will experience resistance at 5326 & 5367.
Best Strategy shall be to:-
Buy above 5308 with Stop Loss of 5251
Sell below 5251 with Stop Loss of 5308
.
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