LAST TUESDAY’S (01.03.2011) CLOSE WAS AT 5522.30 (+ 189.05 POINTS). THE DAY HIGH WAS 5533 AND LOW WAS 5373. WEEKLY HIGH IS AT 5599.25 AND THE WEEKLY LOW IS AT 5232.
5DMA=5372
5DMA=5372
20DMA=5406
50DMA=5669
200DMA=5648
IMMEDIATE TREND IS POSITIVE. IMMEDIATE SUPPORTS ARE AT 5474, 5424 AND THEN 5377 LEVEL. RESISTANCE ARE AT 5554, 5600 AND THEN 5644 LEVEL. TREND WILL BE BEARISH ONLY IF NIFTY CLOSE BELOW 5424 FOR TWO-THREE CONSECUTIVE DAYS.
50DMA=5669
200DMA=5648
IMMEDIATE TREND IS POSITIVE. IMMEDIATE SUPPORTS ARE AT 5474, 5424 AND THEN 5377 LEVEL. RESISTANCE ARE AT 5554, 5600 AND THEN 5644 LEVEL. TREND WILL BE BEARISH ONLY IF NIFTY CLOSE BELOW 5424 FOR TWO-THREE CONSECUTIVE DAYS.
5-DAY RSI AT 66 AND 14-DAY RSI AT 52 INDICATES NIFTY IS IN BULLISH ZONE.
BUY NIFTY FUTURE AROUND 5470-80 FOR TARGET 5530/5600; STOPLOSS BELOW 5450.BUY BANK NIFTY FUTURE ABOVE 10950 FOR TARGET 11010/11090; STOPLOSS BELOW 10900
