LAST TUESDAY’S (13.12.2011) CLOSE WAS AT 4800.60 (+ 36.00 POINTS). THE DAY HIGH WAS 4824.70 AND LOW WAS 4728.50. WEEKLY HIGH IS AT 5099.25 AND THE WEEKLY LOW IS AT 4728.50.
5DMA=4889
9DMA=4921
14DMA=4866
20DMA=4883
50DMA=5012
100DMA=5089
200DMA=5330
INTRADAY POSITIVE WILL BE ABOVE 4820 AND NEGATIVE WILL BE BELOW 4790. IMMEDIATE INTRADAY SUPPORTS ARE AT 4789, 4764, 4750, 4730 AND 4710 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4820, 4840, 4860 AND 4881 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4750-4890.
5-DAY RSI AT 36 AND 14-DAY RSI AT 41.60 INDICATES NIFTY STILL IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4800 FOR TARGET 4840/4860/4890; STOPLOSS BELOW 4787.
SELL NIFTY FUTURE BELOW 4780 FOR TARGET 4750/4730; STOPLOSS ABOVE 4789.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4800 LEVEL WITH STOPLOSS BELOW 4790 FOR TARGET OF 4900-4950 POSITIONALLY.
BUY GMRINFRA 20CE AROUND 0.60 FOR TARGET 1.20/1.50; STOPLOSS BELOW 0.40 (LOT SIZE=8000)
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 28.11 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.
