LAST FRIDAY’S (09.09.2011) CLOSE WAS AT 5059.40 (- 93.80 POINTS). THE DAY HIGH WAS 5163.75 AND LOW WAS 5046.80. WEEKLY HIGH IS AT 5169.25 AND THE WEEKLY LOW IS AT 4942.90.
5DMA=5084
9DMA=5014
14DMA=4968
20DMA=4998
50DMA=5317
100DMA=5564
200DMA=5564
A GAP DOWN OPENING (BELOW 5000) IS EXPECTED. IF OPENS BELOW 5000, INTRADAY POSITIVE WILL BE ABOVE 5015 AND NEGATIVE WILL BE BELOW 4990. IMMEDIATE INTRADAY SUPPORTS ARE AT 4970, 4955, AND 4942 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5015, 5024, 5055, 5067 AND 5089 LEVEL.
5-DAY RSI AT 63 AND 14-DAY RSI AT 47.15 INDICATES NIFTY IS NEITHER IN BULLISH NOR IN BEARISH BUT IN CRITICAL ZONE.
BUY NIFTY FUTURE AROUND 4950 FOR TARGET 4970/5000; STOPLOSS BELOW 4940.
BUY NIFTY FUTURE ABOVE 5024 FOR TARGET 5067/5089; STOPLOSS BELOW 5015.
SELL NIFTY FUTURE BELOW 4930 (ON POSITIONAL BASIS) WITH STOPLOSS OF 4970 FOR TARGET 4800.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX AT 28.15 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.
