LAST FRIDAY’S (16.12.2011) CLOSE WAS AT 4651.60 (- 94.75 POINTS). THE DAY HIGH WAS 4818.85 AND LOW WAS 4628.20. WEEKLY HIGH IS AT 4910.25 AND THE WEEKLY LOW IS AT 4628.20.
5DMA=4745
9DMA=4849
14DMA=4865
20DMA=4839
50DMA=4997
100DMA=5063
200DMA=5316
INTRADAY POSITIVE WILL BE ABOVE 4670 AND NEGATIVE WILL BE BELOW 4620. IMMEDIATE INTRADAY SUPPORTS ARE AT 4620, 4600, AND 4570 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4670, 4689, 4711, 4733, AND 4750 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4570-4750.
5-DAY RSI AT 20 AND 14-DAY RSI AT 34.85 INDICATES NIFTY STILL IS IN BEARISH BUT OVERSOLD ZONE.
BELOW 4600 (NIFTY SPOT) IT IS BETTER TO EXIT FROM ALL LONGS. HOWEVER, A PULL BACK IS EXPECTED FROM 4600-4611 LEVEL.
BUY NIFTY FUTURE ABOVE 4670 FOR TARGET 4690/4710; STOPLOSS BELOW 4650.
SELL NIFTY FUTURE BELOW 4650 FOR TARGET 4620/4600; STOPLOSS ABOVE 4670.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4600 LEVEL WITH STOPLOSS BELOW 4570 FOR TARGET OF 4800-4850 POSITIONALLY.
THOSE HOLDING GMRINFRA 20CE (TAKEN @0.40) MAY HOLD WITH STOPLOSS BELOW 0.30.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 29.69 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.
