Intraday Stock Trading

Technical View:

The daily chart on NIFTY suggests that the NIFTY has resistance at 5311/5341. If it breaks 5341 we could see the next key resistance levels of 5421/5451 or even 5490. On the down side, the NIFTY has found the support at 5181/5141 levels. More Information about nifty trading tips please visit the site intraday-stock-trading.blogspot.com. Technically the short term trend on NIFTY is likely to remain volatile. Trade Cautiously as breakout of 5180/70 would invite fresh selling pressure and then 5121/5071 is possible

Day Trading Strategy:

Nifty may open flat to negative note and it would remain range bound between 5181 and 5281 levels. Breakout of either level would dictate the intraday trend. The overall daily chart structure is likely to remain volatile and it has support at 5140 and 5121. Below this level, it could test 5090/5070 levels. On the higher side, the resistance for NIFTY is seen at 5310 and 5341. Volatility may remain high ahead of F&O market expiry.