LAST THURSDAY’S (24.02.2011) CLOSE WAS AT 5262. (- 175 POINTS). THE DAY HIGH WAS 5423 AND LOW WAS 5242. WEEKLY HIGH IS AT 5599.25 AND THE WEEKLY LOW IS AT 5242.
5DMA=5429
5DMA=5429
20DMA=5420
50DMA=5702
200DMA=5642
IMMEDIATE TREND IS NEGATIVE. IMMEDIATE SUPPORTS ARE AT 5220, AND THEN 5177 LEVEL. RESISTANCE ARE AT 5350, 5389 AND THEN 5402 LEVEL. TREND WILL BE BULLISH ONLY IF NIFTY CLOSE ABOVE 5400 FOR TWO-THREE CONSECUTIVE DAYS.
50DMA=5702
200DMA=5642
IMMEDIATE TREND IS NEGATIVE. IMMEDIATE SUPPORTS ARE AT 5220, AND THEN 5177 LEVEL. RESISTANCE ARE AT 5350, 5389 AND THEN 5402 LEVEL. TREND WILL BE BULLISH ONLY IF NIFTY CLOSE ABOVE 5400 FOR TWO-THREE CONSECUTIVE DAYS.
5-DAY RSI AT 25 AND 14-DAY RSI AT 35 INDICATES NIFTY IS IN STRONG BEAR ZONE.
BUY NIFTY FUTURE ABOVE 5313 FOR TARGET 5331/5360; STOPLOSS 5300.
SELL NIFTY FUTURE BELOW 5250 FOR TARGET 5221/5200; STOPLOSS 5268
SELL NIFTY FUTURE BELOW 5250 FOR TARGET 5221/5200; STOPLOSS 5268
SELL BANK NIFTY FUTURE BELOW 10170 FOR TARGET 10100/10020; STOPLOSS ABOVE 10210
