Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 11 Jan 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on January 8, 2010
Total Views - 700
On 8th markets closed on a weak note after a flat opening amidst a volatile trading session.
It closed marginally below the 5 DMA and above 20 DMA levels and RSI around 30 indicating a some more volatility and profit bookings around 5250 levels before it starts the positive momentum towards 5300 in the coming days.
Nifty finally closed at 5244.75
loosing 18 points or 0.35 %
Trading Strategy for 11 Jan, 2010
Intraday Support for the market shall be 5196 & 5154.
While the market will experience resistance at 5292 & 5338.
Best Strategy shall be to:-
Buy above 5271 with Stop Loss of 5218
Sell below 5218 with Stop Loss of 5271
.
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