Intraday Technical Analysis with Nifty Chart and Trading Stretegy / Stock Tips for 17 Mar 2010 www.StockInspection.com
Posted by Indrodeep Banerjee on March 16, 2010
Total Views - 365
The previous market session closed on a extremely strong note after a flat opening, after the opening markets turned volatile but sustained buying spree helped the markets to spectacularly surge up in the days session which helped the markets to finally reach above the 5200 levels. Markets reached to our pre calculated resistance level of 5206 and again our buying strategy for buying above 5151 for the target of 5206 fetched huge profits to the traders
It closed above the 5 DMA and 20 DMA levels and RSI around 80 indicating that the market is looking positive, volatile and may face stiff resistance above 5200 levels, unless it manages to give closing above 5200 levels for this week.
Nifty finally closed at 5198.10
gaining 69 points or 1.35 %
Trading Strategy for 17 Mar, 2010
Intraday Support for the market shall be 5152 & 5108 .
While the market will experience resistance at 5238 & 5276.
Best Strategy shall be to:-
Buy above 5221 with Stop Loss of 5178
Sell below 5178 with Stop Loss of 5221
.
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