LAST MONDAY’S (10.10.2011) CLOSE WAS AT 4979.60 (+ 91.55 POINTS). THE DAY HIGH WAS 4991.15 AND LOW WAS 4882.05. WEEKLY HIGH IS AT 5034.25 AND THE WEEKLY LOW IS AT 4728.30.
5DMA=4848
9DMA=4902
14DMA=4930
20DMA=4955
50DMA=5054
100DMA=5285
200DMA=5469
INTRADAY POSITIVE WILL BE ABOVE 5011 AND NEGATIVE WILL BE BELOW 4960. IMMEDIATE INTRADAY SUPPORTS ARE AT 4977, 4960, 4945, 4924, 4911 AND 4901 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4990, 5011, 5024, 5041 AND 5067 LEVEL. POSITIONAL LONG MAY BE TAKEN ABOVE 5041.
5-DAY RSI AT 62 AND 14-DAY RSI AT 50.47 INDICATES NIFTY IS STILL IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5011 FOR TARGET 5041/5067; STOPLOSS BELOW 4990.
SELL NIFTY FUTURE BELOW 4950 FOR TARGET 4931/4832; STOPLOSS ABOVE 4970.
FOR RISKY TRADE: BUY NIFTY FUTURE AROUND 4984 FOR TARGET 5010; STOPLOSS BELOW 4977.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 30.40 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.
