Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 1 Feb’10 www.StockInspection.com
Posted by Indrodeep Banerjee on January 29, 2010
Total Views - 1420
The previous market session closed on a positive note after a gap down opening amidst a volatile trading session.
It closed below the 5 DMA and 20 DMA levels and RSI around 25 indicating that the market is looking positive for a bounce back after RBI credit policy revision and trying to come out of oversold zone with long term investors choosing stocks for the value buying opportunity.
Nifty finally closed at 4882.05
gaining 15 points or 0.30 %
Trading Strategy for 1 Feb, 2010
Intraday Support for the market shall be 4836 & 4788.
While the market will experience resistance at 4926 & 4968.
Best Strategy shall be to:-
Buy above 4906 with Stop Loss of 4858
Sell below 4858 with Stop Loss of 4906
.
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