LAST FRIDAY’S (14.10.2011) CLOSE WAS AT 5132.30 (+ 54.45 POINTS). THE DAY HIGH WAS 5141.40 AND LOW WAS 5056.60. WEEKLY HIGH IS AT 5141.40 AND THE WEEKLY LOW IS AT 4882.05.
5DMA=5053
9DMA=4947
14DMA=4945
20DMA=4970
50DMA=5018
100DMA=5270
200DMA=5450
INTRADAY POSITIVE WILL BE ABOVE 5155 AND NEGATIVE WILL BE BELOW 5115. IMMEDIATE INTRADAY SUPPORTS ARE AT 5115, 5089, 5067, AND 5041 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5150, 5168, 5177, 5189 AND 5200 LEVEL. POSITIONAL SHORT MAY BE TAKEN AROUND 5180 WITH STOPLOSS OF 5225.
5-DAY RSI AT 74 AND 14-DAY RSI AT 57.67 INDICATES NIFTY IS OVERBOUGHT BUT STILL IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5141 FOR TARGET 5170/5189; STOPLOSS BELOW 5120.
SELL NIFTY FUTURE BELOW 5111 FOR TARGET 5088/5067; STOPLOSS ABOVE 5125.
FOR RISKY TRADE: SELL NIFTY FUTURE AROUND 5179-5180 WITH STOPLOSS AT 5200 FOR TARGET OF 5150/5140.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 25.98 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.
