LAST FRIDAY’S (30.12.2011) CLOSE WAS AT 4624.30 (- 21.95 POINTS). THE DAY HIGH WAS 4690.45 AND LOW WAS 4608.90. WEEKLY HIGH IS AT 4800.50 AND THE WEEKLY LOW IS AT 4608.90.
5DMA=4701
9DMA=4688
14DMA=4698
20DMA=4774
50DMA=4940
100DMA=4976
200DMA=5280
INTRADAY POSITIVE WILL BE ABOVE 4640 AND NEGATIVE WILL BE BELOW 4624. IMMEDIATE INTRADAY SUPPORTS ARE AT 4600, 4585, 4570 AND 4555 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4640, 4660, 4688 AND 4711 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4570-4710.
5-DAY RSI AT 32 AND 14-DAY RSI AT 39.02 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4640 FOR TARGET 4662/4680; STOPLOSS BELOW 4624.
SELL NIFTY FUTURE BELOW 4620 FOR TARGET 4600/4585; STOPLOSS ABOVE 4630.
FOR RISKY TRADE: BUY NIFTY FUTURE OR NIFTY CALL OPTIONS (4800) AROUND 4610 LEVEL WITH STOPLOSS BELOW 4600 (NIFTY SPOT).
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 27.11 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.
