LAST WEDNESDAY’S (28.12.2011) CLOSE WAS AT 4705.80 (- 44.70 POINTS). THE DAY HIGH WAS 4756.20 AND LOW WAS 4685.65. WEEKLY HIGH IS AT 4800.50 AND THE WEEKLY LOW IS AT 4632.95.
5DMA=4737
9DMA=4687
14DMA=4723
20DMA=4800
50DMA=4959
100DMA=4993
200DMA=5289
INTRADAY POSITIVE WILL BE ABOVE 4710 AND NEGATIVE WILL BE BELOW 4710. IMMEDIATE INTRADAY SUPPORTS ARE AT 4700, 4680, 4664, 4651 AND 4640 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4711, 4731, 4750 AND 4770 LEVEL. ABOVE 4770, NIFTY MAY TOUCH 4800 LEVEL. FLAT TO POSITIVE OPENING IS EXPECTED. EXPECTED RANGE FOR TODAY MAYBE 4640-4770. VOLATILITY MAY BE SEEN DUE TO F&O EXPIRY DAY.
5-DAY RSI AT 45 AND 14-DAY RSI AT 43.23 INDICATES NIFTY IS IN NEUTRAL ZONE.
BUY NIFTY FUTURE ABOVE 4711 FOR TARGET 4731/4750/4770; STOPLOSS BELOW 4700.
SELL NIFTY FUTURE BELOW 4700 FOR TARGET 4680/4660/4640; STOPLOSS ABOVE 4711.
FOR RISKY TRADE: BUY JANUARY NIFTY FUTURE OR NIFTY CALL OPTIONS (4800) AROUND 4660 LEVEL WITH STOPLOSS BELOW 4620 (NIFTY SPOT). TARGET .... PROBABLY IT WILL BE 'NEW YEAR GIFT'.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 26.74 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.
