Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 11 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 10, 2010
Total Views - 459
The previous market session closed on a marginally positive note after a flat opening, after the opening markets turned volatile but gained some buying interest to reach the days high during the mid session but failed to sustain the gains on profit bookings emerging at every highs on the selective counters. Markets lacked in decisive direction throughout the days session before finally closing with the marginal gains the end of the day.
It closed above the 5 DMA and 20 DMA levels and RSI around 70 indicating that the market is looking positive, volatile and consolidating before adding further buying interest and march onwards to 5200 levels.
Nifty finally closed at 5116.25
gaining 16 points or 0.29 %
Trading Strategy for 11 Mar, 2010
Intraday Support for the market shall be 5068 & 5024 .
While the market will experience resistance at 5158 & 5197.
Best Strategy shall be to:-
Buy above 5138 with Stop Loss of 5093
Sell below 5093 with Stop Loss of 5138
.
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