LAST MONDAY’S (29.08.2011) CLOSE WAS AT 4919.60 (+ 171.80 POINTS). THE DAY HIGH WAS 4934.40 AND LOW WAS 4806.05. WEEKLY HIGH IS AT 4965.80 AND THE WEEKLY LOW IS AT 4720.00.
5DMA=4869
9DMA=4899
14DMA=4969
20DMA=5081
50DMA=5361
100DMA=5478
200DMA=5598
INTRADAY POSITIVE WILL BE ABOVE 4970 AND NEGATIVE WILL BE BELOW 4908. IMMEDIATE INTRADAY SUPPORTS ARE AT 4911, 4889, 4863 AND 4835 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 4934, 4948, 4969 AND 5015 4786, 4800, 4811 AND 4834 LEVEL.
5-DAY RSI AT 51 AND 14-DAY RSI AT 38.18 INDICATES NIFTY IS NEAR BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 4934 FOR TARGET OF 4969/5015; STOPLOSS BELOW 4911.
SELL NIFTY FUTURE BELOW 4888 FOR TARGET OF 4860/4834; STOPLOSS ABOVE 4900.
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 SHORT AROUND 5055 AREA WITH STOPLOSS OF 5074 FOR TARGET OF 4850/4700.
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.
