LAST FRIDAY’S (07.10.2011) CLOSE WAS AT 4888.05 (+ 136.75 POINTS). THE DAY HIGH WAS 4922.60 AND LOW WAS 4861.20. WEEKLY HIGH IS AT 5034.25 AND THE WEEKLY LOW IS AT 4728.30.
5DMA=4841
9DMA=4886
14DMA=4934
20DMA=4959
50DMA=5066
100DMA=5290
200DMA=5474
INTRADAY POSITIVE WILL BE ABOVE 4911 AND NEGATIVE WILL BE BELOW 4860. IMMEDIATE INTRADAY SUPPORTS ARE AT 4867, 4841, 4832, 4815 AND 4798 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4901, 4911, 4924, 4945 AND 4977 LEVEL. POSITIONAL LONG MAY BE TAKEN ONLY ABOVE 4911.
5-DAY RSI AT 51 AND 14-DAY RSI AT 45.59 INDICATES NIFTY IS STILL IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4911 FOR TARGET 4945/4970; STOPLOSS BELOW 4880.
SELL NIFTY FUTURE BELOW 4867 FOR TARGET 4841/4832; STOPLOSS ABOVE 4880.
FOR RISKY TRADE: BUY NIFTY FUTURE AROUND 4880 FOR TARGET 4900; STOPLOSS BELOW 4867.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 33.02 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.
