LAST FRIDAY’S (08.07.2011) CLOSE WAS AT 5660.65 (- 68.30 POINTS). THE DAY HIGH WAS 5740.40 AND LOW WAS 5651.05. WEEKLY HIGH IS AT 5740.40 AND THE WEEKLY LOW IS AT 5477.
5DMA=5660
9DMA=5635
14DMA=5542
20DMA=5501
50DMA=5503
100DMA=5564
200DMA=5742
IMMEDIATE TREND IS NEUTRAL. NEGATIVE TREND WILL BE BELOW 5600 AND POSITIVE TREND WILL BE ABOVE 5700. IMMEDIATE INTRADAY SUPPORTS ARE AT 5650, 5624 AND 5600 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5711, 5745 AND 5770 LEVEL.
5-DAY RSI AT 60 AND 14-DAY RSI AT 59.99 INDICATES NIFTY IS IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5680 FOR TARGET 5710/5740; STOPLOSS BELOW 5659.
SELL NIFTY FUTURE BELOW 5640 FOR TARGET 5620/5600; STOPLOSS ABOVE 5659.
SELL NIFTY FUTURE AROUND 5711 FOR TARGET 5680/5660; STOPLOSS 5741.
TRY TO AVOID BANKNIFTY FOR SOME DAYS TILL NEXT RBI POLICY.
