LAST MONDAY’S (23.05.2011) CLOSE WAS AT 5386.55 (- 99.80 POINTS). THE DAY HIGH WAS 5456.70 AND LOW WAS 5373.00. WEEKLY HIGH IS AT 5541 AND THE WEEKLY LOW IS AT 5373.
5DMA=5432
20DMA=5570
50DMA=5640
50DMA=5640
100DMA=5636
200DMA=5755
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5550. IMMEDIATE INTRADAY SUPPORTS ARE AT 5350, 5340, 5325 AND 5311 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5400, 5440 AND 5489 LEVEL.
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5550. IMMEDIATE INTRADAY SUPPORTS ARE AT 5350, 5340, 5325 AND 5311 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5400, 5440 AND 5489 LEVEL.
5-DAY RSI AT 30 AND 14-DAY RSI AT 36 INDICATES NIFTY PLACED IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5401 FOR TARGET 5425/5440; STOPLOSS BELOW 5380.
SELL NIFTY FUTURE BELOW 5350 FOR TARGET 5331/5310; STOPLOSS ABOVE 5468.
BUY BANKNIFTY FUTURE ABOVE 10,350 FOR TARGET 10,400/10,440; STOPLOSS BELOW 10,310
SELL BANK NIFTY FUTURE BELOW 10,330 FOR TARGET 10,260/10,210; STOPLOSS ABOVE 10,350.
