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"NIFTY LEVELS FOR WEDNESDAY (18.05.2011)"

LAST TUESDAY’S (17.05.2011) CLOSE WAS AT 5438.95 (- 60.05 POINTS). THE DAY HIGH WAS 5523.85 AND LOW WAS 5421.05. WEEKLY HIGH IS AT 5605 AND THE WEEKLY LOW IS AT 5421.
     5DMA=5507 
    20EMA=5602
    20DMA=5652
    50SMA=5646
  100SMA=5653
  200EMA=5627
  200DMA=5755
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5550 AND TREND REVERSAL WILL BE ABOVE 5700. IMMEDIATE INTRADAY SUPPORTS ARE AT 5421, 5401 AND 5368 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5477, 5490 AND 5511 LEVEL.
5-DAY RSI AT 28 AND 14-DAY RSI AT 36 INDICATES NIFTY PLACED IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5465 FOR TARGET 5490/5511; STOPLOSS BELOW 5440.
SELL NIFTY FUTURE BELOW 5440 FOR TARGET 5420/5400; STOPLOSS ABOVE 5465.
SELL NIFTY FUTURE AROUND 5490 FOR TARGET 5465/5440; STOPLOSS ABOVE 5511.
BUY BANKNIFTY FUTURE ABOVE 10,680 FOR TARGET 10,730/10,770; STOPLOSS BELOW 10,650
SELL BANK NIFTY FUTURE BELOW 10,580 FOR TARGET 10,510/10,470; STOPLOSS ABOVE 10,640.

"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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