LAST THURSDAY’S (21.07.2011) CLOSE WAS AT 5541.60 (- 25.45 POINTS). THE DAY HIGH WAS 5578.90 AND LOW WAS 5532.70. WEEKLY HIGH IS AT 5653 AND THE WEEKLY LOW IS AT 5532.
5DMA=5574
9DMA=5578
14DMA=5607
20DMA=5596
50DMA=5508
100DMA=5576
200DMA=5720
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5500. IMMEDIATE INTRADAY SUPPORTS ARE AT 5531, 5524 AND 5500 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5550, 5580, AND 5611 LEVEL.
5-DAY RSI AT 37 AND 14-DAY RSI AT 48.29 INDICATES NIFTY IS NEAR BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5550 FOR TARGET 5570/5581; STOPLOSS BELOW 5630.
SELL NIFTY FUTURE AROUND 5530 FOR TARGET 5510/5490; STOPLOSS ABOVE 5550.
SELL NIFTY FUTURE AROUND 5600 FOR TARGET 5570/5550; STOPLOSS ABOVE 5620.
AVOID BANKNIFTY FOR THE TIME BEING ATLEAST TILL 26TH JULY, 2011.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
