LAST FRIDAY’S (15.07.2011) CLOSE WAS AT 5581.10 (- 18.70 POINTS). THE DAY HIGH WAS 5631.70 AND LOW WAS 5562.75. WEEKLY HIGH IS AT 5740.40 AND THE WEEKLY LOW IS AT 5541.
5DMA=5582
9DMA=5617
14DMA=5616
20DMA=5538
50DMA=5504
100DMA=5563
200DMA=5731
IMMEDIATE TREND IS POSITIVE. NEGATIVE TREND WILL BE BELOW 5540/5500. IMMEDIATE INTRADAY SUPPORTS ARE AT 5560, 5524 AND 5490 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5611, 5640 AND 5659 LEVEL.
5-DAY RSI AT 46 AND 14-DAY RSI AT 52.16 INDICATES NIFTY IS IN NEUTRAL ZONE AND MAY ENTER EITHER IN BULLISH OR BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5594 FOR TARGET 5625/5655; STOPLOSS BELOW 5577.
BUY NIFTY FUTURE AROUND 5560 FOR TARGET 5590/5610; STOPLOSS BELOW 5540.
SELL NIFTY FUTURE BELOW 5540 FOR TARGET 5524/5500; STOPLOSS ABOVE 5564.
BUY BANKNIFTY ABOVE 11140 FOR TAGET 11200/11240; STOPLOSS BELOW 11100.
BUY BANKNIFTY AROUND 11290 FOR TARGET 11330/11370; STOPLOSS BELOW 11240.
SELL BANKNIFTY BELOW 11210 FOR TARGET 11170/11140; STOPLOSS ABOVE 11240.
HOWEVER, IT WILL BE BETTER IF BANKNIFTY MAY AVOIDED FOR THE TIME BEING.
