LAST TUESDAY’S (11.10.2011) CLOSE WAS AT 4974.35 (- 5.25 POINTS). THE DAY HIGH WAS 5045.10 AND LOW WAS 4964.00. WEEKLY HIGH IS AT 5045.10 AND THE WEEKLY LOW IS AT 4728.30.
5DMA=4873
9DMA=4902
14DMA=4918
20DMA=4957
50DMA=5042
100DMA=5280
200DMA=5464
INTRADAY POSITIVE WILL BE ABOVE 5000 AND NEGATIVE WILL BE BELOW 4960. IMMEDIATE INTRADAY SUPPORTS ARE AT 4960, 4945, 4931, 4924, 4911 AND 4901 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4977, 4990, 5011, 5024 AND 5044 LEVEL. POSITIONAL LONG MAY BE TAKEN ABOVE 5045.
5-DAY RSI AT 61 AND 14-DAY RSI AT 50.19 INDICATES NIFTY IS STILL IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 4990 FOR TARGET 5011/5041; STOPLOSS BELOW 4970.
SELL NIFTY FUTURE BELOW 4950 FOR TARGET 4931/4911; STOPLOSS ABOVE 4970.
FOR RISKY TRADE: BUY NIFTY FUTURE AROUND 4977 FOR TARGET 5010; STOPLOSS BELOW 4977.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 30.30 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.
