Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 25 Jan 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on January 23, 2010
Total Views - 648
The previous market session closed on a weak note after a huge gap down opening amidst a highly volatile trading session. Market took the support around the level of 4960.
It closed below the 5 DMA and 20 DMA levels and RSI around 10 indicating that the market is looking weak and sentiments down amidst negative global cues.
Nifty finally closed at 5036
loosing 58 points or 1.14 %
Trading Strategy for 25 Jan, 2010
Intraday Support for the market shall be 4992 & 4953.
While the market will experience resistance at 5082 & 5123.
Best Strategy shall be to:-
Buy above 5061 with Stop Loss of 5012
Sell below 5012 with Stop Loss of 5061
.
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