LAST FRIDAY’S (23.12.2011) CLOSE WAS AT 4714.00 (- 19.85 POINTS). THE DAY HIGH WAS 4763.45 AND LOW WAS 4693.20. WEEKLY HIGH IS AT 4763.45 AND THE WEEKLY LOW IS AT 4531.15.
5DMA=4660
20DMA=4806
50DMA=4976
100DMA=5016
200DMA=5299
INTRADAY POSITIVE WILL BE ABOVE 4733 AND NEGATIVE WILL BE BELOW 4710. IMMEDIATE INTRADAY SUPPORTS ARE AT 4710, 4680, 4664, 4651 AND 4640 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4731, 4750, 4780, 4800 AND 4820 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4640-4820.
5-DAY RSI AT 49 AND 14-DAY RSI AT 43.08 INDICATES NIFTY IS IN NEUTRAL ZONE.
5-DAY RSI AT 49 AND 14-DAY RSI AT 43.08 INDICATES NIFTY IS IN NEUTRAL ZONE.
FLAT TO POSITIVE OPENING/CONSOLIDATION IS EXPECTED.
BUY NIFTY FUTURE ABOVE 4731 FOR TARGET 4750/4778/4800; STOPLOSS BELOW 4711.
SELL NIFTY FUTURE BELOW 4710 FOR TARGET 4680/4660; STOPLOSS ABOVE 4730.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4700-4710 LEVEL WITH STOPLOSS BELOW 4680 FOR TARGET OF 4800-4850 POSITIONALLY (WITHIN THIS EXPIRY). THIS WILL BE NEGATIATED IF NIFTY CLOSED BELOW 4700 ON EOD.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 27.39 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.
