LAST WEDNESDAY’S (04.05.2011) CLOSE WAS AT 5537.15 (- 28.10 POINTS). THE DAY HIGH WAS 5578.80 AND LOW WAS 5503.00. WEEKLY HIGH IS AT 5912 AND THE WEEKLY LOW IS AT 5503.
5DMA=5668
20DMA=5804
50DMA=5631
200DMA=5751
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5770. IMMEDIATE INTRADAY SUPPORTS ARE AT 5510, 5480 AND 5460 LEVEL AND RESISTANCE ARE AT 5550, 5600 AND 5631 LEVEL.
50DMA=5631
200DMA=5751
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5770. IMMEDIATE INTRADAY SUPPORTS ARE AT 5510, 5480 AND 5460 LEVEL AND RESISTANCE ARE AT 5550, 5600 AND 5631 LEVEL.
5-DAY RSI AT 12 AND 14-DAY RSI AT 36 INDICATES NIFTY IS IN BEARISH ZONE AND ENTERING OVERSOLD ZONE.
BUY NIFTY FUTURE ABOVE 5556 FOR TARGET 5570/5600; STOPLOSS BELOW 5530.
SELL NIFTY FUTURE AROUND 5508 FOR TARGET 5489/5471; STOPLOSS ABOVE 5530.
BUY BANK NIFTY FUTURE ABOVE 10,930 FOR TARGET 10,970/11,020; STOPLOSS BELOW 10,880
SELL BANK NIFTY FUTURE BELOW 10,850 FOR TARGET 10,800/10,780; STOPLOSS BELOW 10,900
