LAST WEDNESDAY’S (17.08.2011) CLOSE WAS AT 5056.60 (+ 20.80 POINTS). THE DAY HIGH WAS 5112.15 AND LOW WAS 5017.25. WEEKLY HIGH IS AT 5204.20 AND THE WEEKLY LOW IS AT 4946.45.
5DMA=5096
9DMA=5133
14DMA=5253
20DMA=5382
50DMA=5455
100DMA=5551
200DMA=5657
INTRADAY POSITIVE WILL BE ABOVE 5067 AND NEGATIVE WILL BE BELOW 5041. IMMEDIATE INTRADAY SUPPORTS ARE AT 5050, 5041, 5015 AND 4980 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5067, 5089, 5114 AND 5135 LEVEL.
5-DAY RSI AT 26 AND 14-DAY RSI AT 29.50 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5067 FOR TARGET 5089/5115; STOPLOSS BELOW 5050.
SELL NIFTY FUTURE BELOW 5050 FOR TARGET 5034/5018; STOPLOSS ABOVE 5067.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX INDICATES MORE THAN VOLATILITY. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
FOR BANKNIFTY, GO LONG ONLY ABOVE 10250. 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.
