LAST THURSDAY’S (22.12.2011) CLOSE WAS AT 4733.85 (+ 40.70 POINTS). THE DAY HIGH WAS 4740.60 AND LOW WAS 4632.95. WEEKLY HIGH IS AT 4818.85 AND THE WEEKLY LOW IS AT 4531.15.
5DMA=4647
9DMA=4701
14DMA=4805
20DMA=4807
50DMA=4980
100DMA=5025
200DMA=5304
INTRADAY POSITIVE WILL BE ABOVE 4750 AND NEGATIVE WILL BE BELOW 4710. IMMEDIATE INTRADAY SUPPORTS ARE AT 4710, 4680, 4664, 4651 AND 4640 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4750, 4780, 4800 AND 4840 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4660-4800.
5-DAY RSI AT 53 AND 14-DAY RSI AT 44.08 INDICATES NIFTY IS IN NEUTRAL ZONE.
FLAT TO POSITIVE OPENING/CONSOLIDATION IS EXPECTED.
BUY NIFTY FUTURE ABOVE 4750 FOR TARGET 4780/4800; STOPLOSS BELOW 4730.
SELL NIFTY FUTURE BELOW 4710 FOR TARGET 4680/4660; STOPLOSS ABOVE 4730.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE ABOVE 4750-4755 LEVEL WITH STOPLOSS BELOW 4710 FOR TARGET OF 4850-4900 POSITIONALLY (WITHIN THIS EXPIRY). THIS WILL BE VALID IF NIFTY CLOSED ABOVE 4750 ON EOD.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 26.84 IS 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.
