Indian stock markets closed flat today with almost flat notes. High volatility can be seen in markets this week as Monetary Policy on 24th and F&O expiry on 25th will provide the next trigger for the market. Moreover it is a shortened week on account of holiday on Thursday Jan 26.
For intraday trading tomorrow Nifty could find support at 5,000 and resistance are likely to placed at 5,075-5,145. Technically the market trend is up but I would be cautious and be ready to short the market if it breaks the crucial support of 5,000. The market has so far managed to stay above the crucial 5,000 mark and yet taking care to stay below the crucial 5,075 mark technically the market is stretched and 5,000 remains the crucial support level to watch for shorting and should be considered up as long as 5,000 holds.
Nifty Trading Strategy For Tomorrow 24-Jan
Trade long in Nifty above 5,050 levels, else from 5,030 levels with stop loss placed at 5,000 levels for targets of 5,080 and 5,100 levels.
For intraday trading tomorrow Nifty could find support at 5,000 and resistance are likely to placed at 5,075-5,145. Technically the market trend is up but I would be cautious and be ready to short the market if it breaks the crucial support of 5,000. The market has so far managed to stay above the crucial 5,000 mark and yet taking care to stay below the crucial 5,075 mark technically the market is stretched and 5,000 remains the crucial support level to watch for shorting and should be considered up as long as 5,000 holds.
Nifty Trading Strategy For Tomorrow 24-Jan
Trade long in Nifty above 5,050 levels, else from 5,030 levels with stop loss placed at 5,000 levels for targets of 5,080 and 5,100 levels.
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