LAST TUESDAY’S (03.01.2012) CLOSE WAS AT 4765.30 (+ 128.55 POINTS). THE DAY HIGH WAS 4773.10 AND LOW WAS 4675.80. WEEKLY HIGH IS AT 4773.10 AND THE WEEKLY LOW IS AT 4588.05.
5DMA=4676
9DMA=4706
14DMA=4686
20DMA=4740
50DMA=4924
100DMA=4962
200DMA=5272
INTRADAY POSITIVE WILL BE ABOVE 4777 AND NEGATIVE WILL BE BELOW 4750. IMMEDIATE INTRADAY SUPPORTS ARE AT 4750, 4726, 4711 AND 4700 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4780, 4800, 4820 AND 4850 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BE BETWEEN 4710-4840.
5-DAY RSI AT 64 AND 14-DAY RSI AT 49.40 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4780 FOR TARGET 4800/4820; STOPLOSS BELOW 4770.
SELL NIFTY FUTURE BELOW 4750 FOR TARGET 4731/4710; STOPLOSS ABOVE 4770.
FOR RISKY TRADE: SELL NIFTY FUTURE BELOW 4767 FOR TARGET 4750; STOPLOSS 4777.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 26.16 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.
