LAST CLOSING ON 27.01.2011 WAS AT 5604 (-83 POINTS). ON THAT DAY HIGH WAS 5726 AND LOW WAS 5594. WEEKLY HIGH IS 5801 AND LOW IS AT 5594.
5DMA=5689
20DMA=5844
50DMA=5899
200DMA=5620
20DMA=5844
50DMA=5899
200DMA=5620
IMMEDIATE TREND IS NEGATIVE. NEXT SUPPORT IS AROUND 5550/5535 LEVEL. 5-DAY RSI IS 26 AND 14-DAY RSI IS 34 INDICATES NIFTY IN BEARISH ZONE. NOW THE TREND REVERSAL POINT IS 5741. KEEPING 5741-SPOT AS STOPLOSS BEARS CAN SHORT IN EVERY UP MOVE. BULLS HAVE TO WAIT FOR NIFTY TO CLOSE ABOVE 5741 AND THEN CAN INITIATE FRESH LONGS.
FOR TODAY, BUY NIFTY FUTURE ABOVE 5631; TARGET 5650/5677; STOPLOSS BELOW 5614. SELL NIFTY FUTURE BELOW 5598; TARGET 5556/5541, STOPLOSS 5617.
