LAST MONDAY’S (05.09.2011) CLOSE WAS AT 5017.20 (- 22.80 POINTS). THE DAY HIGH WAS 5030.30 AND LOW WAS 4964.45. WEEKLY HIGH IS AT 5113.70 AND THE WEEKLY LOW IS AT 4720.00.
5DMA=4945
9DMA=4922
14DMA=4947
20DMA=5015
50DMA=5353
100DMA=5453
200DMA=5582
TODAY ANOTHER GAP-DOWN OPENING IS EXPECTED. INTRADAY POSITIVE WILL BE ABOVE 5030 AND NEGATIVE WILL BE BELOW 4975. IMMEDIATE INTRADAY SUPPORTS ARE AT 4970, 4955, 4931 AND 4889 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5015, 5055, 5080 AND 5117 LEVEL.
5-DAY RSI AT 60 AND 14-DAY RSI AT 44.56 INDICATES NIFTY BOUNCED FROM OVERSOLD ZONE AND IS NEAR BULLISH ZONE.
BUY NIFTY FUTURE AROUND 4934(ON THE UPSIDE MOVE) FOR TARGET OF 4969/4989; STOPLOSS BELOW 4911.
BUY NIFTY FUTURE ABOVE 5015 FOR TARGET 5055/5080; STOPLOSS BELOW 5000.
SELL NIFTY FUTURE BELOW 4975(ON THE DOWNSIDE MOVE) FOR TARGET OF 4950/4934; STOPLOSS ABOVE 5000.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX AT 27.83 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.
