LAST FRIDAY’S (05.08.2011) CLOSE WAS AT 5211.25 (- 120.55 POINTS). THE DAY HIGH WAS 5229.65 AND LOW WAS 5116.45. WEEKLY HIGH IS AT 5702.25 AND THE WEEKLY LOW IS AT 5116.45.
5DMA=5384
9DMA=5446
14DMA=5503
20DMA=5526
50DMA=5518
100DMA=5576
200DMA=5686
IMMEDIATE TREND IS NEGATIVE. INTRADAY POSITIVE TREND WILL BE ABOVE 5250. IMMEDIATE INTRADAY SUPPORTS ARE AT 5177, 5130 AND 5115 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5250, 5294 AND 5331 LEVEL.
5-DAY RSI AT 11 AND 14-DAY RSI AT 29.09 INDICATES NIFTY IS IN BEARISH AND OVERSOLD ZONE.
BUY NIFTY FUTURE ABOVE 5218 FOR TARGET 5250/5280; STOPLOSS BELOW 5200.
SELL NIFTY FUTURE BELOW 5200 FOR TARGET 5179/5130; STOPLOSS ABOVE 5230.
BUY BANKNIFTY FUTURE ABOVE 10380 FOR TARGET 10430/10480; STOPLOSS BELOW 10330.
SELL BANKNIFTY FUTURE BELOW 10300 FOR TARGET 10255/10210; STOPLOSS ABOVE 10330.
ALL LEVELS ARE NIFTY SPOT LEVEL. WILD VOLATILITY WILL BE SEEN.
BETTER AVOID TRADING FOR SOME MORE DAYS.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
