LAST MONDAY’S (08.08.2011) CLOSE WAS AT 5118.50 (- 92.75 POINTS). THE DAY HIGH WAS 5204.20 AND LOW WAS 5054.05. WEEKLY HIGH IS AT 5551.90 AND THE WEEKLY LOW IS AT 5054.05.
5DMA=5305
9DMA=5395
14DMA=5468
20DMA=5501
50DMA=5510
100DMA=5572
200DMA=5681
IMMEDIATE TREND IS NEGATIVE. INTRADAY POSITIVE TREND WILL BE ABOVE 5155/5177 AND INTRADAY NEGATIVE TREND WILL BE BELOW 5088. IMMEDIATE INTRADAY SUPPORTS ARE AT 5080, 5055 AND 5005 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5177, 5200 AND 5221 LEVEL.
5-DAY RSI AT 8 AND 14-DAY RSI AT 25.66 INDICATES NIFTY IS IN OVERSOLD ZONE.
BUY NIFTY FUTURE ABOVE 5154 FOR TARGET 5200/5220; STOPLOSS BELOW 5131.
BUY NIFTY FUTURE AROUND 5055 FOR TARGET 5118/5144; STOPLOSS BELOW 5034.
SELL NIFTY FUTURE AROUND 5220 FOR TARGET 5179/5150; STOPLOSS ABOVE 5241.
BUY BANKNIFTY FUTURE ABOVE 10310 FOR TARGET 10370/10420; STOPLOSS BELOW 10260.
SELL BANKNIFTY FUTURE BELOW 10280 FOR TARGET 10235/10210; STOPLOSS ABOVE 10310.
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.
