LAST MONDAY’S (26.09.2011) CLOSE WAS AT 4835.40 (- 32.35 POINTS). THE DAY HIGH WAS 4879.80 AND LOW WAS 4758.85. WEEKLY HIGH IS AT 5168.40 AND THE WEEKLY LOW IS AT 4758.85.
5DMA=4980
9DMA=5012
14DMA=5024
20DMA=5006
50DMA=5178
100DMA=5340
200DMA=5514
INTRADAY POSITIVE WILL BE ABOVE 4890 AND NEGATIVE WILL BE BELOW 4824. IMMEDIATE INTRADAY SUPPORTS ARE AT 4824, 4800, 4750 AND 4720 LEVEL. BELOW 4700, EXIT ALL LONGS, IF ANY. IMMEDIATE INTRADAY RESISTANCE ARE AT 4848, 4860, 4880, 4910 AND 4940 LEVEL.
5-DAY RSI AT 25 AND 14-DAY RSI AT 37.84 INDICATES NIFTY IS BEARISH BUT NEAR OVERSOLD ZONE.
BUY NIFTY FUTURE AROUND 4850 FOR TARGET 4890/4910; STOPLOSS BELOW 4824.
SELL NIFTY FUTURE BELOW 4824 FOR TARGET 4800/4750; STOPLOSS ABOVE 4840.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 35.43 INDICATING MORE THAN AVERAGE VOLATILITY. A SMALL GAP-UP OPENING IS EXPECTED SUBJECT TO ASIAN MARKETS CONDITION.
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.
