LAST WEDNESDAY’S (24.08.2011) CLOSE WAS AT 4888.90 (- 60.00 POINTS). THE DAY HIGH WAS 4962.40 AND LOW WAS 4875.30. WEEKLY HIGH IS AT 5132.20 AND THE WEEKLY LOW IS AT 4796.10.
5DMA=4905
9DMA=4981
14DMA=5052
20DMA=5181
50DMA=5395
100DMA=5510
200DMA=5620
INTRADAY POSITIVE WILL BE ABOVE 4915 AND NEGATIVE WILL BE BELOW 4860. IMMEDIATE INTRADAY SUPPORTS ARE AT 4845, 4821, 4800 AND 4790 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 4934, 4955, 4975 AND 5015 LEVEL.
5-DAY RSI AT 31 AND 14-DAY RSI AT 29.04 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4911 FOR TARGET OF 4934/4950/4965; STOPLOSS BELOW 4888.
AVOID BANK NIFTY FOR TODAY. IN FACT, IF POSSIBLE, BEING EXPIRY DAY, AVOID ANY TRADING FOR TODAY.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX INDICATES MORE THAN AVERAGE VOLATILITY. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. POSITINOAL TRADERS CAN GO LONG FOR SEPTEMBER SERIES ONLY AROUND 4820/4840 AREA WITH STOPLOSS OF 4800.
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.
