LAST WEDNESDAY’S (10.08.2011) CLOSE WAS AT 5161.00 (+ 88.15 POINTS). THE DAY HIGH WAS 5197.95 AND LOW WAS 5123.35. WEEKLY HIGH IS AT 5551.90 AND THE WEEKLY LOW IS AT 4946.45.
5DMA=5179
9DMA=5306
14DMA=5406
20DMA=5457
50DMA=5492
100DMA=5566
200DMA=5671
GAP DOWN OPENING IS EXPECTED. IMMEDIATE INTRADAY SUPPORTS ARE AT 5050, 5000 AND 4945 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5177, 5200 AND 5224 LEVEL.
5-DAY RSI AT 30 AND 14-DAY RSI AT 32.41 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE AROUND 5089 FOR TARGET 5134/5167; STOPLOSS BELOW 5067.
BUY NIFTY FUTURE ABOVE 5177 FOR TARGET 5200/5224; STOPLOSS BELOW 5160.
SELL NIFTY FUTURE AROUND 5220 FOR TARGET 5179/5150; STOPLOSS ABOVE 5241.
SELL NIFTY FUTURE BELOW 5042 FOR TARGET 5000/4950; STOPLOSS ABOVE 5064.
ALL LEVELS ARE NIFTY SPOT LEVEL. VOLATILITY WILL BE SEEN.
BETTER AVOID TRADING FOR SOME MORE DAYS.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
