LAST FRIDAY’S (09.12.2011) CLOSE WAS AT 4866.70 (- 76.95 POINTS). THE DAY HIGH WAS 4918.35 AND LOW WAS 4841.75. WEEKLY HIGH IS AT 5099.25 AND THE WEEKLY LOW IS AT 4841.75.
5DMA=4992
9DMA=4932
14DMA=4868
20DMA=4920
50DMA=5017
100DMA=5105
200DMA=5336
INTRADAY POSITIVE WILL BE ABOVE 4910 AND NEGATIVE WILL BE BELOW 4840. IMMEDIATE INTRADAY SUPPORTS ARE AT 4840, 4820 AND 4800 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4890, 4910, 4930 AND 4950 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4800-4950.
5-DAY RSI AT 38 AND 14-DAY RSI AT 43.94 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4890 FOR TARGET 4910/4930/4955; STOPLOSS BELOW 4860.
SELL NIFTY FUTURE BELOW 4860 FOR TARGET 4840/4820; STOPLOSS ABOVE 4889.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4955 LEVEL WITH STOPLOSS BELOW 4910 (IF POSSIBLE, STOPLOSS MAY BE PLACED BELOW 4889) FOR TARGET OF 5100 POSITIONALLY.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 15-20 POINTS. VIX AT 29.53 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.
