Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 28 Jan’10 www.StockInspection.com
Posted by Indrodeep Banerjee on January 27, 2010
Total Views - 550
The previous market session closed on a extremely weak note in the negative territory breaking all the support levels after a gap down opening amidst a weak trading session.
It closed much below the 5 DMA and 20 DMA levels and RSI around 1 indicating that the market is looking extremely weak and sentiments down amidst concerns over RBI credit policy revision.
We don’t expect any interest rate hike or hike in PLR or Repo rate or Reverse Repo rate while CRR hike could be at most 25 basic points in this RBI credit policy review on 29 Jan.
Nifty finally closed at 4853.10
loosing 155 points or 3.09 %
Trading Strategy for 28 Jan, 2010
Intraday Support for the market shall be 4816 & 4872.
While the market will experience resistance at 4912 & 4958.
Best Strategy shall be to:-
Buy above 4878 with Stop Loss of 4824
Sell below 4824 with Stop Loss of 4878
.
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