Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 18 Feb 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on February 17, 2010
Total Views - 469
The previous market session closed on a strong note after a positive gap up opening, markets traded strongly in green throughout the days trading session with resistance at 4936 as calculated by us earlier to this session. Our buying strategy for buying above 4876 for the resistance levels of 4896 &4936 with SL of 4832 worked well fetching huge profits.
It closed above the 5 DMA and 20 DMA levels and RSI around 90 indicating that the market is looking positive within extremely volatile trading.
Nifty finally closed at 4914
gaining 58 points or 1.20 %
Trading Strategy for 18 Feb, 2010
Intraday Support for the market shall be 4872 & 4836 .
While the market will experience resistance at 4952 & 4992.
Best Strategy shall be to:-
Buy above 4936 with Stop Loss of 4892
Sell below 4892 with Stop Loss of 4936
.
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