Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 17 Feb 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on February 16, 2010
Total Views - 462
The previous market session closed on a extremely strong note after a marginally positive opening, markets traded in green for most part of the days trading session with support at 4846 & 4888 as calculated by us earlier to this session. Our buying strategy for buying above 4826 for the resistance levels of 4846 &4888 with SL of 4778 worked well.
It closed above the 5 DMA but below 20 DMA levels and RSI around 80 indicating that the market is looking positive within extremely volatile trading.
Nifty finally closed at 4855.75
gaining 54 points or 1.12 %
Trading Strategy for 17 Feb, 2010
Intraday Support for the market shall be 4802 & 4751 .
While the market will experience resistance at 4896 & 4936.
Best Strategy shall be to:-
Buy above 4876 with Stop Loss of 4832
Sell below 4832 with Stop Loss of 4876
.
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