LAST FRIDAY’S (21.10.2011) CLOSE WAS AT 5049.95 (- 41.95 POINTS). THE DAY HIGH WAS 5120.75 AND LOW WAS 5037.95. WEEKLY HIGH IS AT 5160.20 AND THE WEEKLY LOW IS AT 5011.05.
5DMA=5087
9DMA=5072
14DMA=4990
20DMA=4977
50DMA=4998
100DMA=5253
200DMA=5425
INTRADAY POSITIVE WILL BE ABOVE 5089 AND NEGATIVE WILL BE BELOW 5041. IMMEDIATE INTRADAY SUPPORTS ARE AT 5041, 5031, AND 5000 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5067, 5089, 5115, 5124, 5150, 5169, 5177, 5189 AND 5200 LEVEL. POSITIONAL SHORT MAY BE TAKEN AROUND 5180 WITH STOPLOSS OF 5225 OR BELOW 5000. POSITION LONG MAY BE TAKEN AROUND 5034 WITH STOPLOSS BELOW 5000.
5-DAY RSI AT 48 AND 14-DAY RSI AT 54 .01 INDICATES NIFTY IS IN CRITICAL ZONE WITH NEGATIVE BIAS.
BUY NIFTY FUTURE ABOVE 5077 FOR TARGET 5100/5134; STOPLOSS BELOW 5067.
SELL NIFTY FUTURE BELOW 5041 FOR TARGET 5020/5000; STOPLOSS ABOVE 5067.
FOR RISKY TRADE: IN CASE GAP-UP OPENING (ABOVE 5100 LEVEL), SELL NIFTY FUTURE AROUND 5169 LEVEL WITH STOPLOSS AT 5200 FOR TARGET OF 5100.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 25.60 IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
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.
