LAST TUESDAY’S (30.08.2011) CLOSE WAS AT 5001.00 (+ 81.40 POINTS). THE DAY HIGH WAS 5016.25 AND LOW WAS 4927.55. WEEKLY HIGH IS AT 5016.25 AND THE WEEKLY LOW IS AT 4720.00.
5DMA=4879
9DMA=4893
14DMA=4964
20DMA=5055
50DMA=5356
100DMA=5469
200DMA=5592
INTRADAY POSITIVE WILL BE ABOVE 5015 AND NEGATIVE WILL BE BELOW 4975. IMMEDIATE INTRADAY SUPPORTS ARE AT 4969, 4955 AND 4931 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5015, 5055, 5080 AND 5117 LEVEL.
5-DAY RSI AT 60 AND 14-DAY RSI AT 43.37 INDICATES NIFTY IS NEAR BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 4934 FOR TARGET OF 4969/5015; STOPLOSS BELOW 4911.
BUY NIFTY FUTURE ABOVE 5015 FOR TARGET 5055/5080; STOPLOSS BELOW 5000.
SELL NIFTY FUTURE BELOW 4975 FOR TARGET OF 4950/4934; STOPLOSS ABOVE 5000.
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 5200 AREA WITH STOPLOSS OF 5220 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.
