Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 3 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 2, 2010
Total Views - 411
The previous market session closed on a strong positive note after a gap up opening, after the opening markets sustained the gains on strong buying by the investors and traders also some short covering were seen at higher levels. Markets took resistance at our pre calculated level of 5018 and our buying strategy for buying above 4948 for resistance of 5018 fetched huge profits
It closed above the 5 DMA and 20 DMA levels and RSI around 97 indicating that the market is looking positive and entering the over valued zone. 20 DMA is turning as support for this markets which will help the markets to scale 5000+ levels in the coming days. .
Nifty finally closed at 5017
gaining 95 points or 1.92 %
Trading Strategy for 3 Mar, 2010
Intraday Support for the market shall be 4972 & 4936 .
While the market will experience resistance at 5063 & 5112.
Best Strategy shall be to:-
Buy above 5038 with Stop Loss of 4992
Sell below 4992 with Stop Loss of 5038
.
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