LAST MONDAY’S (19.12.2011) CLOSE WAS AT 4613.10 (- 38.50 POINTS). THE DAY HIGH WAS 4623.15 AND LOW WAS 4555.90. WEEKLY HIGH IS AT 4910.25 AND THE WEEKLY LOW IS AT 4555.90.
5DMA=4715
9DMA=4801
14DMA=4848
20DMA=4825
50DMA=4992
100DMA=5051
200DMA=5314
INTRADAY POSITIVE WILL BE ABOVE 4630 AND NEGATIVE WILL BE BELOW 4600. IMMEDIATE INTRADAY SUPPORTS ARE AT 4600, 4575, 4560 AND 4530 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4630, 4648, 4670, 4689, 4711 AND 4733 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4560-4730.
5-DAY RSI AT 18 AND 14-DAY RSI AT 33.28 INDICATES NIFTY STILL IS IN OVERSOLD ZONE.
BELOW 4560 (NIFTY SPOT) IT IS BETTER TO EXIT FROM ALL LONGS. HOWEVER, A PULL BACK IS EXPECTED.
BUY NIFTY FUTURE ABOVE 4633 FOR TARGET 4649/4670; STOPLOSS BELOW 4621.
SELL NIFTY FUTURE BELOW 4600 FOR TARGET 4580/4560; STOPLOSS ABOVE 4621.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4575 LEVEL WITH STOPLOSS BELOW 4550 FOR TARGET OF 4680-4730 POSITIONALLY.
THOSE HOLDING GMRINFRA 20CE (TAKEN @0.40) MAY HOLD WITH STOPLOSS BELOW 0.30 (IT DIDN’T BREAK 0.30 LEVEL).
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 30.56 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.
