LAST TUESDAY’S (23.08.2011) CLOSE WAS AT 4948.90 (+ 50.10 POINTS). THE DAY HIGH WAS 4965.80 AND LOW WAS 4863.80. WEEKLY HIGH IS AT 5132.20 AND THE WEEKLY LOW IS AT 4796.10.
5DMA=4939
9DMA=5011
14DMA=5089
20DMA=5215
50DMA=5407
100DMA=5519
200DMA=5627
INTRADAY POSITIVE WILL BE ABOVE 4965 AND NEGATIVE WILL BE BELOW 4931. IMMEDIATE INTRADAY SUPPORTS ARE AT 4934, 4910, 4889 AND 4864 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 4955, 4975, 5015 AND 5055 LEVEL.
5-DAY RSI AT 38 AND 14-DAY RSI AT 31.76 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4965 FOR TARGET OF 4994/5015; STOPLOSS BELOW 4934.
SELL NIFTY FUTURE BELOW 4925 FOR TARGET OF 4889/4864; STOPLOSS ABOVE 4938.
BUY BANKNIFTY ABOVE 9520 FOR TARGET OF 9580/9620; STOPLOSS BELOW 9480.
SELL BANKNIFTY BELOW 9465 FOR TARGET OF 9420/9380; STOPLOSS ABOVE 9510.
WATCH AXISBANK 1100 CALL
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 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.
