LAST WEDNESDAY’S (05.10.2011) CLOSE WAS AT 4751.30 (- 20.85 POINTS). THE DAY HIGH WAS 4827.80 AND LOW WAS 4741.00. WEEKLY HIGH IS AT 5034.25 AND THE WEEKLY LOW IS AT 4728.30.
5DMA=4866
9DMA=4884
14DMA=4948
20DMA=4973
50DMA=5082
100DMA=5296
200DMA=5480
INTRADAY POSITIVE WILL BE ABOVE 4800 AND NEGATIVE WILL BE BELOW 4740. IMMEDIATE INTRADAY SUPPORTS ARE AT 4740, 4723 AND 4710 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4780, 4800, 4824, 4845, 4860 AND 4880 LEVEL. POSITIONAL LONG MAY BE TAKEN ONLY ABOVE 4911.
5-DAY RSI AT 25 AND 14-DAY RSI AT 36.94 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4800 FOR TARGET 4845/4860; STOPLOSS BELOW 4780.
SELL NIFTY FUTURE BELOW 4767 FOR TARGET 4720; STOPLOSS ABOVE 4780.
FOR RISKY TRADE: BUY NIFTY FUTURE AROUND 4715-4720 FOR TARGET 4800; STOPLOSS 4700.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 35.37 IS STILL INDICATING MORE THAN 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.
