LAST FRIDAY’S (04.11.2011) CLOSE WAS AT 5284.20 (+ 18.45 POINTS). THE DAY HIGH WAS 5326.45 AND LOW WAS 5256.80. WEEKLY HIGH IS AT 5399.70 AND THE WEEKLY LOW IS AT 5011.05.
5DMA=5269
9DMA=5250
14DMA=5192
20DMA=5141
50DMA=5038
100DMA=5228
200DMA=5396
INTRADAY POSITIVE WILL BE ABOVE 5300 AND NEGATIVE WILL BE BELOW 5250. IMMEDIATE INTRADAY SUPPORTS ARE AT 5267, 5245, 5221 AND 5200 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5300, 5322, 5370-5380 AND 5400 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 5200-5344
5-DAY RSI AT 65 AND 14-DAY RSI AT 60.27 INDICATES NIFTY IS IN BULLISH ZONE WITH POSITIVE BIAS.
BUY NIFTY FUTURE ABOVE 5300 FOR TARGET 5345; STOPLOSS BELOW 5280.
SELL NIFTY FUTURE BELOW 5260 FOR TARGET 5220; STOPLOSS ABOVE 5280.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 5220 LEVEL WITH STOPLOSS BELOW 5220 (IF POSSIBLE, STOPLOSS MAY BE PLACED BELOW 5177 FOR TARGET OF 5400 POSITIONALLY.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 23.43 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.
(WILL BE OUT OF STATION AND NOT POSSIBLE TO UPDATE THE BLOG TILL DECEMBER 07, 2011)
