LAST WEDNESDAY’S (04.01.2012) CLOSE WAS AT 4749.65 (- 15.65 POINTS). THE DAY HIGH WAS 4782.85 AND LOW WAS 4728.85. WEEKLY HIGH IS AT 4782.85 AND THE WEEKLY LOW IS AT 4588.05.
5DMA=4684
9DMA=4708
14DMA=4686
20DMA=4725
50DMA=4917
100DMA=4958
200DMA=5268
INTRADAY POSITIVE WILL BE ABOVE 4767 AND NEGATIVE WILL BE BELOW 4730. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4724, 4711 AND 4700 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4767, 4782, 4800, 4820 AND 4840 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4700-4820.
5-DAY RSI AT 60 AND 14-DAY RSI AT 48.41 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4770 FOR TARGET 4790/4820; STOPLOSS BELOW 4762.
SELL NIFTY FUTURE BELOW 4750 FOR TARGET 4731/4710; STOPLOSS ABOVE 4770.
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 26.41 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.
