LAST SATURDAY’S (07.01.2012; IT WAS A SPECIAL SESSION FOR ONE AND HALF HOUR – 11.15 HRS TO 1245 HRS) CLOSE WAS AT 4746.90 (- 7.20 POINTS). THE DAY HIGH WAS 4759.40 AND LOW WAS 4743.05. SINCE THIS TYPE OF SHORT SESSION DOESN’T AFFECT IN CHART, WE ARE TAKING THE BELOW MENTIONED FIGURE FOR LAST MONDAY TO FRIDAY. WEEKLY HIGH IS AT 4794.90 AND THE WEEKLY LOW IS AT 4588.05.
5DMA=4731
9DMA=4709
14DMA=4703
20DMA=4711
50DMA=4904
100DMA=4951
200DMA=5262
INTRADAY POSITIVE WILL BE ABOVE 4755 AND NEGATIVE WILL BE BELOW 4730. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4724, 4711, 4700 AND 4682 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4750, 4770, 4784, 4800, 4818 AND 4835 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4680-4820.
5-DAY RSI AT 61 AND 14-DAY RSI AT 48.19 INDICATES NIFTY IS IN NEUTRAL ZONE.
BUY NIFTY FUTURE ABOVE 4755 FOR TARGET 4770/4790; STOPLOSS BELOW 4750.
SELL NIFTY FUTURE BELOW 4730 FOR TARGET 4710/4685; STOPLOSS ABOVE 4750.
FOR RISKY TRADE: BUY NIFTY 4800CE AROUND 4700-4710 LEVEL WITH STOPLOSS 4680; TARGET 4800 (SPOT).
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 25.65 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.
