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"NIFTY LEVELS FOR TUESDAY (03.05.2011)"


LAST MONDAY’S (02.05.2011) CLOSE WAS AT 5701.30 (- 48.20 POINTS). THE DAY HIGH WAS 5775.25 AND LOW WAS 5687.70. WEEKLY HIGH IS AT 5912 AND THE WEEKLY LOW IS AT 5687.
     5DMA=5788 
   20DMA=5833
   50DMA=5629
 200DMA=5749
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5850. IMMEDIATE INTRADAY SUPPORTS ARE AT 5688, 5640 AND 5600 LEVEL AND RESISTANCE ARE AT 5774, 5800 AND 5824 LEVEL.
5-DAY RSI AT 24 AND 14-DAY RSI AT 46 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5730 FOR TARGET 5770/5824; STOPLOSS BELOW 5710.
SELL NIFTY FUTURE BELOW 5700 FOR TARGET 5670/5650; STOPLOSS ABOVE 5734.
BUY BANK NIFTY FUTURE ABOVE 11,350 FOR TARGET 11,440/11,530; STOPLOSS BELOW 11,310
BUY BANK NIFTY FUTURE AROUND 11,150 FOR TARGET 11,220/11,255; STOPLOSS BELOW 11,100
SELL BANK NIFTY FUTURE AROUND 11260 FOR TARGET 11220/11170; STOPLOSS ABOVE 11310

"Now its time to invest in good quality stocks like ICICIBANK, SBIN, RELIANCE etc. " - Jay
Due to volatility, one may abstain from day-traiding for few days.

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