LAST TUESDAY’S (12.07.2011) CLOSE WAS AT 5526.15 (- 89.95 POINTS). THE DAY HIGH WAS 5580.25 AND LOW WAS 5496.95. WEEKLY HIGH IS AT 5740.40 AND THE WEEKLY LOW IS AT 5477.
5DMA=5631
9DMA=5635
14DMA=5584
20DMA=5510
50DMA=5500
100DMA=5586
200DMA=5738
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5550/5600. IMMEDIATE INTRADAY SUPPORTS ARE AT 5500, 5489 AND 5460 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5541, 5577 AND 5590 LEVEL.
5-DAY RSI AT 34 AND 14-DAY RSI AT 48.23 INDICATES NIFTY IS NEAR BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5545 FOR TARGET 5565/5580; STOPLOSS BELOW 5524.
SELL NIFTY FUTURE BELOW 5510 FOR TARGET 5480/5460; STOPLOSS ABOVE 5524.
SELL NIFTY FUTURE AROUND 5580 FOR TARGET 5540/5510; STOPLOSS 5605.
AVOID BANKNIFTY FOR THE TIME BEING.
