Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 18 Jan 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on January 15, 2010
Total Views - 2120
The previous market session closed on a flat note but marginally negative after the strong gap up opening amidst a volatile trading session. Market took the support at the level of 5250.
It closed above the 5 DMA and 20 DMA levels and RSI around 60 indicating that the market is looking volatile at the current levels, and trying to consolidate around the 5250 levels before taking any decisive direction in the coming days.
Nifty finally closed at 5252.20
loosing 8 points or 0.15 %
Trading Strategy for 18 Jan, 2010
Intraday Support for the market shall be 5196 & 5154.
While the market will experience resistance at 5292 & 5334.
Best Strategy shall be to:-
Buy above 5274 with Stop Loss of 5231
Sell below 5231 with Stop Loss of 5274
.
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