[sharetrading] Day Trading Calls with Market Review for 19 Feb 2010

 

Day Trading Calls with Market Review for 19 Feb 2010

Nifty ended in red after moving up for two days in a row. Again, 4846 remains a crucial support, as its overlap will be a warning shot for reversal of the trend. The index is trading above its 20 daily moving average (DMA), which still remains a short-term support on a closing basis. The index has also formed a flag pattern on the hourly charts, which is a bullish sign in the short term. The daily momentum indicator has come very close to the zero line, which was expected to be tested in this pullback. Above 4930, the 40 daily exponential moving average (DEMA) remains a very crucial resistance, which almost coincides with the 50% retracement of the fall. Hence, till 4846 is held there is a possibility that Nifty can take off 4930 in this pullback and so we continue to maintain our bias up.

NSE adds 11 stocks in F&O from February 19

Nifty Support & Resistance For 19 Feb 2010

Daytrading Calls For 19 Feb 2010

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With Regards,
Kushagra Mehta
http://www.daytrading.in

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