LAST WEDNESDAY’S (27.07.2011) CLOSE WAS AT 5546.80 (- 28.05 POINTS). THE DAY HIGH WAS 5591.70 AND LOW WAS 5521.50. WEEKLY HIGH IS AT 5702.25 AND THE WEEKLY LOW IS AT 5521.50.
5DMA=5596
9DMA=5590
14DMA=5592
20DMA=5610
50DMA=5518
100DMA=5581
200DMA=5710
IMMEDIATE TREND IS NEGATIVE. POSITIVE TREND WILL BE ABOVE 5567. IMMEDIATE INTRADAY SUPPORTS ARE AT 5524, 5500, 5480 AND 5460 LEVEL. BELOW 5460 LEVEL, IT MAY TOUCH 5400/5300. IMMEDIATE INTRADAY RESISTANCE ARE AT 5567, 5577, 5589 AND 5610 LEVEL. ABOVE 5610, NEXT RESISTANCE WILL BE AT 5659 AND 5700.
5-DAY RSI AT 40 AND 14-DAY RSI AT 48 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5556 FOR TARGET 5589/5611; STOPLOSS BELOW 5541.
SELL NIFTY FUTURE BELOW 5531 FOR TARGET 5510/5490; STOPLOSS ABOVE 5541.
BUY BANKNIFTY ABOVE 11040 FOR TARGET 11105/11170; STOPLOSS 11000.
SELL BANKNIFTY BELOW 10990 FOR TARGET 10940/10900; STOPLOSS 11030.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
WATCH FOR NIFTY 5600PE/5500CE AND TAKE THE ADVANTAGE OF VOLATILITY.
