LAST TUESDAY’S (06.09.2011) CLOSE WAS AT 5064.30 (+ 47.10 POINTS). THE DAY HIGH WAS 5072.90 AND LOW WAS 4942.90. WEEKLY HIGH IS AT 5113.70 AND THE WEEKLY LOW IS AT 4720.00.
5DMA=5008
20DMA=5001
50DMA=5341
200DMA=5577
PROBABLY A GAP-DOWN OPENING TODAY. INTRADAY POSITIVE WILL BE ABOVE 5065 AND NEGATIVE WILL BE BELOW 5055. IMMEDIATE INTRADAY SUPPORTS ARE AT 5015, 5000, 4970, 4955 AND 4941 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5080, 5100 AND 5117 LEVEL.
5-DAY RSI AT 66 AND 14-DAY RSI AT 48 INDICATES NIFTY IS IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5065 FOR TARGET 5089/5104; STOPLOSS BELOW 5050.
SELL NIFTY FUTURE BELOW 5011 FOR TARGET OF 4970/4945; STOPLOSS ABOVE 5030.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX AT 28.66 INDICATING MORE THAN AVERAGE VOLATILITY. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
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.
