Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 13 Jan 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on January 12, 2010
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On 12th markets closed on a weak note after the flat opening amidst a volatile trading session.
It closed below the 5 DMA and above 20 DMA levels and RSI around 45 indicating that the market is looking directionless at the current levels, especially with strong IIP nos. but on negative concerns over withdrawal of stimulus package from the RBI. before it finds the support and starts for the positive momentum towards 5300 in the coming days.
Nifty finally closed at 5210.40
loosing 39 points or 0.74 %
Trading Strategy for 13 Jan, 2010
Intraday Support for the market shall be 5168 & 5122.
While the market will experience resistance at 5258 & 5306.
Best Strategy shall be to:-
Buy above 5224 with Stop Loss of 5188
Sell below 5188 with Stop Loss of 5224
.
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