[sharetrading] Day Trading Calls with Market Review for 10 Mar 2010

 

Day Trading Calls with Market Review for 10 Mar 2010

After remaining sideways for two days, today, Nifty moved down and closed below the upper Bollinger band. From here 5049 is the minor support and if Nifty breaches this level it will be an early signal of a next move down. The index was moving up holding its upper Bollinger band and had a high probability that it might reverse down to test its mean. There was negative divergence on the hourly momentum indicator, which had put some pressure on Nifty, however the momentum continues to be in buy mode, which doesn't signals any weakness yet. So, we continue to maintain our short-term bias up.

 

 

Nifty Close 5102

Nifty Support 5068-5049-4967

Nifty Resistance 5147-5170-5200

 

1.    Sell TCS Below 759 SL 770 TGT 740

2.    Sell DLF Below 307 SL 311.80 TGT 307-300

3.    Sell L& T Below 1560 SL 1586 TGT 1525

4.    Sell ICICI Bank Below 910 SL 924.8 TGT 890

 

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

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