Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 16 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 15, 2010
Total Views - 371
The previous market session closed on a flat note after a flat opening, after the opening markets turned weak but gained some strength in the mid session which helped the markets to finally manage to close flat with the marginal loss at 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 facing stiff resistance at every level while inching towards the 5200 levels.
Nifty finally closed at 5128.90
loosing 8 points or 0.16 %
Trading Strategy for 16 Mar, 2010
Intraday Support for the market shall be 5084 & 5046 .
While the market will experience resistance at 5174 & 5206.
Best Strategy shall be to:-
Buy above 5151 with Stop Loss of 5108
Sell below 5108 with Stop Loss of 5151
.
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