LAST TUESDAY’S (27.12.2011) CLOSE WAS AT 4750.50 (- 28.50 POINTS). THE DAY HIGH WAS 4800.50 AND LOW WAS 4723.65. WEEKLY HIGH IS AT 4800.50 AND THE WEEKLY LOW IS AT 4601.95.
5DMA=4734
9DMA=4692
14DMA=4742
20DMA=4805
50DMA=4966
100DMA=5001
200DMA=5293
INTRADAY POSITIVE WILL BE ABOVE 4770 AND NEGATIVE WILL BE BELOW 4731. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4710, 4680, 4664, 4651 AND 4640 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4770, 4800, 4820 AND 4845 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4680-4840. BETWEEN 4730 AND 4770, DAY TRADING MAY BE DONE BUT WITH STRICT STOPLOSS OF 10-15 POINTS.
5-DAY RSI AT 54 AND 14-DAY RSI AT 45.7 INDICATES NIFTY IS IN NEUTRAL ZONE.
FLAT TO POSITIVE OPENING/CONSOLIDATION IS EXPECTED.
BUY NIFTY FUTURE ABOVE 4770 FOR TARGET 4800/4820/4840; STOPLOSS BELOW 4760.
SELL NIFTY FUTURE BELOW 4750 FOR TARGET 4731/4710/4680; STOPLOSS ABOVE 4760.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE ABOVE 4800 LEVEL WITH STOPLOSS BELOW 4770 FOR TARGET OF 4850-4890 POSITIONALLY (WITHIN THIS EXPIRY). THIS WILL BE NEGATIATED IF NIFTY CLOSED BELOW 4770 ON EOD.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 26.29 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.
