LAST THURSDAY’S (29.12.2011) CLOSE WAS AT 4646.25 (- 59.55 POINTS). THE DAY HIGH WAS 4701.80 AND LOW WAS 4639.05. WEEKLY HIGH IS AT 4800.50 AND THE WEEKLY LOW IS AT 4632.95.
5DMA=4719
9DMA=4687
14DMA=4708
20DMA=4790
50DMA=4950
100DMA=4985
200DMA=5284
INTRADAY POSITIVE WILL BE ABOVE 4660 AND NEGATIVE WILL BE BELOW 4640. IMMEDIATE INTRADAY SUPPORTS ARE AT 4640, 4624, 4600, 4585 AND 4568 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4660, 4688, 4711, 4731 AND 4750 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4585-4730.
5-DAY RSI AT 35 AND 14-DAY RSI AT 40.13 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4660 FOR TARGET 4688/4711/4730; STOPLOSS BELOW 4640.
SELL NIFTY FUTURE BELOW 4640 FOR TARGET 4620/4600/4585; STOPLOSS ABOVE 4660.
FOR RISKY TRADE: BUY NIFTY FUTURE OR NIFTY CALL OPTIONS (4800) AROUND 4640 LEVEL WITH STOPLOSS BELOW 4620 (NIFTY SPOT). TARGET LATER.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 26.62 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.
