"NIFTY LEVEL FOR WEDNESDAY"

YESTERDAY’S (01/02) LAST CLOSE WAS AT 5417 (-88 POINTS). THE DAY HIGH WAS 5539 AND LOW WAS 5402. WEEKLY HIGH IS AT 5801 AND THE WEEKLY LOW IS AT 5402.
     5DMA=5545
   20DMA=5746
   50DMA=5870
 200DMA=5624
IMMEDIATE TREND IS NEGATIVE. SUPPORT IS AT 5400 AND THEN 5350 LEVEL. WILL BE POSITIVE ONLY ABOVE 5800.

5-DAY RSI AT 13 AND 14-DAY RSI AT 27 INDICATES NIFTY IS IN OVERSOLD ZONE.
BUY NIFTY FUTURE ABOVE 5445 FOR TARGET 5465/5488; STOPLOSS 5421.
SELL NIFTY FUTURE BELOW 5400 FOR TARGET 5375/5350; STOPLOSS 5424.

SELL BANK NIFTY FUTURE BELOW 10380 FOR TARGET 10300/10220; STOPLOSS ABOVE 10450.