LAST THURSDAY’S (14.07.2011) CLOSE WAS AT 5599.80 (+ 14.35 POINTS). THE DAY HIGH WAS 5653.95 AND LOW WAS 5541.70. WEEKLY HIGH IS AT 5740.40 AND THE WEEKLY LOW IS AT 5477.
5DMA=5598
9DMA=5625
14DMA=5612
20DMA=5527
50DMA=5504
100DMA=5733
200DMA=5734
IMMEDIATE TREND IS POSITIVE. NEGATIVE TREND WILL BE BELOW 5540/5500. IMMEDIATE INTRADAY SUPPORTS ARE AT 5560, 5524 AND 5490 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5611, 5640 AND 5659 LEVEL.
5-DAY RSI AT 50 AND 14-DAY RSI AT 53.79 INDICATES NIFTY IS IN NEUTRAL ZONE AND MAY ENTER EITHER IN BULLISH OR BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5610 FOR TARGET 5625/5659; STOPLOSS BELOW 5577.
BUY NIFTY FUTURE AROUND 5570 FOR TARGET 5590/5611; STOPLOSS BELOW 5541.
SELL NIFTY FUTURE BELOW 5540 FOR TARGET 5524/5500; STOPLOSS ABOVE 5564.
AVOID BANKNIFTY FOR THE TIME BEING, ATLEAST THIS EXPIRY.
