LAST THURSDAY’S (18.08.2011) CLOSE WAS AT 4944.15 (- 112.45 POINTS). THE DAY HIGH WAS 5078.60 AND LOW WAS 4932.15. WEEKLY HIGH IS AT 5204.20 AND THE WEEKLY LOW IS AT 4932.15.
5DMA=5050
9DMA=5090
14DMA=5214
20DMA=5323
50DMA=5443
100DMA=5544
200DMA=5647
INTRADAY POSITIVE WILL BE ABOVE 4955 AND NEGATIVE WILL BE BELOW 4910. IMMEDIATE INTRADAY SUPPORTS ARE AT 4900, 4860, 4821 AND 4800 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5015, 5055, 5089 AND 5115 LEVEL.
5-DAY RSI AT 17 AND 14-DAY RSI AT 25.32 INDICATES NIFTY IS IN BEARISH AND OVERSOLD ZONE.
SELL NIFTY FUTURE BELOW 4950 FOR TARGET 4920/4880/4850; STOPLOSS ABOVE 4980.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX INDICATES MORE THAN VOLATILITY. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. POSITINOAL TRADERS CAN GO LONG ONLY AROUND 4820/4840 AREA WITH STOPLOSS OF 4800.
FOR BANKNIFTY, POSITIONAL TRADERS CAN GO LONG ONLY ABOVE 10250 WHEN IT HITS AGAIN. BETTER AVOID FOR THE TIME BEING.
NOTE: THE ABOVE CALLS MAY NOT BE TAKEN AS RECOMMENDATIONS. THIS IS ONLY MY VIEW/TRADING IDEA. IT IS ADVISED THAT EACH AND EVERY BLOG VISITORS/TRADERS/INVESTORS DO THEIR OWN RESEARCH AND/OR CONSULT FINANCIAL ADVISERS BEFORE TAKING ANY ACTION ON THE ABOVE MENTIONED CALLS.
