Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 10 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 9, 2010
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The previous market session closed on a weak note after a flat opening, after the opening markets turned weak and volatile on lack of buying interest at higher levels and marginal profit bookings arising on the selective counters. Markets remained directionless throughout the days session before finally falling weak at the end of the day.
It closed well above the 5 DMA and 20 DMA levels and RSI around 90 indicating that the market is looking positive, volatile and consolidating before adding further buying interest and march towards 5200 levels.
Nifty finally closed at 5101.50
loosing 22 points or 0.44 %
Trading Strategy for 10 Mar, 2010
Intraday Support for the market shall be 5051 & 5008 .
While the market will experience resistance at 5148 & 5186.
Best Strategy shall be to:-
Buy above 5124 with Stop Loss of 5078
Sell below 5078 with Stop Loss of 5124
.
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