Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 9 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 8, 2010
Total Views - 383
The previous market session closed on a positive note after a huge gap up opening, after the opening markets turned lack luster on lack of buying interest at higher levels and slipped slightly from the days highs on marginal profit bookings on selective counters. Markets faced resistance exactly above our pre calculated level of 5134
It closed well above the 5 DMA and 20 DMA levels and RSI around 95 indicating that the market is looking positive, volatile and consolidating before it could march towards 5200 levels.
Nifty finally closed at 5124
gaining 35 points or 0.69 %
Trading Strategy for 9 Mar, 2010
Intraday Support for the market shall be 5088 & 5051 .
While the market will experience resistance at 5172 & 5216.
Best Strategy shall be to:-
Buy above 5148 with Stop Loss of 5097
Sell below 5097 with Stop Loss of 5148
.
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