Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 8 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 5, 2010
Total Views - 693
The previous market session closed on a positive note after a huge gap up opening, after the opening markets turned volatile on profit booking at higher levels. Markets faced resistance at the level of 5118
It closed above the 5 DMA and 20 DMA levels and RSI around 90 indicating that the market is looking positive and volatile before it could march towards 5200 levels.
Nifty finally closed at 5088.70
gaining 8 points or 0.17 %
Trading Strategy for 8 Mar, 2010
Intraday Support for the market shall be 5039 & 4992 .
While the market will experience resistance at 5134 & 5178.
Best Strategy shall be to:-
Buy above 5118 with Stop Loss of 5066
Sell below 5066 with Stop Loss of 5118
.
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