LAST WEDNNESDAY’S (23/02/2011) CLOSE WAS AT 5437.35 (- 31.85 POINTS). THE DAY HIGH WAS 5495.45 AND LOW WAS 5427. WEEKLY HIGH IS AT 5599.25 AND THE WEEKLY LOW IS AT 5340.
5DMA=5486
5DMA=5486
20DMA=5437
50DMA=5715
200DMA=5642
IMMEDIATE TREND IS NEGATIVE. IMMEDIATE SUPPORTS ARE AT 5424, 5402 AND THEN 5377 LEVEL. RESISTANCE ARE AT 5469, 5489 AND THEN 5511 LEVEL. TREND WILL BE BULLISH ONLY IF NIFTY CLOSE ABOVE 5560 FOR TWO-THREE CONSECUTIVE DAYS.
50DMA=5715
200DMA=5642
IMMEDIATE TREND IS NEGATIVE. IMMEDIATE SUPPORTS ARE AT 5424, 5402 AND THEN 5377 LEVEL. RESISTANCE ARE AT 5469, 5489 AND THEN 5511 LEVEL. TREND WILL BE BULLISH ONLY IF NIFTY CLOSE ABOVE 5560 FOR TWO-THREE CONSECUTIVE DAYS.
5-DAY RSI AT 45 AND 14-DAY RSI AT 44 INDICATES NIFTY IS IN NEUTRAL ZONE AND ENTERING IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5455 FOR TARGET 5489/5500; STOPLOSS 5441.
SELL NIFTY FUTURE BELOW 5424 FOR TARGET 5402/5384; STOPLOSS 5435.
SELL NIFTY FUTURE BELOW 5424 FOR TARGET 5402/5384; STOPLOSS 5435.
SELL BANK NIFTY FUTURE BELOW 10620 FOR TARGET 10590/10520; STOPLOSS ABOVE 10690.
