I am attaching here charts of my favorite stocks, JSW Steel and Tata Motors along with Nifty Spot Index for reference.
Thursday, February 24, 2011
Nifty Analysis 23 Feb 2011
In my analysis on 22nd instant I had observed the previous day’s abnormal rise of Nifty Index was not a lasting one and should not be taken for granted, rather it was a good session for day traders. This is exactly where Moving Average Crossover along with MACD method works, if not precisely, extraordinarily well, thanks to MAs lagging in nature.
I am attaching here charts of my favorite stocks, JSW Steel and Tata Motors along with Nifty Spot Index for reference.
On 21st instant, JSW Steel rose supported by good volume from 870 to 920, nevertheless, while the price moved with such ferocity, MAs and MACD hardly responded. Today although the session was choppy, the previous session’s gains could not be sustained. My next support stands at 873.
Tata Motor is such a wonderful instrument for day trading, today’s session was not that exciting despite the last hour of the previous session’s recovery supported by good volume. My support stands at 1121.
Healthy And Wealthy Trading
I am attaching here charts of my favorite stocks, JSW Steel and Tata Motors along with Nifty Spot Index for reference.
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