LAST WEDNESDAY’S (14.09.2011) CLOSE WAS AT 5012.55 (+ 71.60 POINTS). THE DAY HIGH WAS 5026.15 AND LOW WAS 4917.40. WEEKLY HIGH IS AT 5169.25 AND THE WEEKLY LOW IS AT 4911.05.
5DMA=5023
9DMA=5040
14DMA=4983
20DMA=4974
50DMA=5277
100DMA=5398
200DMA=5551
INTRADAY POSITIVE WILL BE ABOVE 5024 AND NEGATIVE WILL BE BELOW 5000. IMMEDIATE INTRADAY SUPPORTS ARE AT 4988, 4970, 4930 AND 4911 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5018, 5031, 5055 AND 5067 LEVEL.
5-DAY RSI AT 51 AND 14-DAY RSI AT 45.95 INDICATES NIFTY IS NEAR BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5031 FOR TARGET 5059/5088; STOPLOSS BELOW 5015.
SELL NIFTY FUTURE BELOW 5000 FOR TARGET 4970/4930; STOPLOSS ABOVE 5015.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX AT 32.45 INDICATING MORE THAN AVERAGE VOLATILITY. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. BETTER NOT TO TRADE IN BANKNIFTY FOR INTRADAY TILL 16TH SEPTEMBER, 2011.
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.
