Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 12 Jan 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on January 11, 2010
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On 11th markets closed on a flat note after continuously sliding down from early highs after the opening amidst a volatile trading session.
It closed marginally above the 5 DMA and well above 20 DMA levels and RSI around 25 indicating that the market is trying to gain a firm support at the current levels before it starts the positive momentum towards 5300 in the coming days.
Nifty finally closed at 5249.40
gaining 5 points or 0.09 %
Trading Strategy for 12 Jan, 2010
Intraday Support for the market shall be 5212 & 5174.
While the market will experience resistance at 5296 & 5343.
Best Strategy shall be to:-
Buy above 5271 with Stop Loss of 5228
Sell below 5228 with Stop Loss of 5271
.
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