LAST THURSDAY’S (04.08.2011) CLOSE WAS AT 5331.80 (- 73.00 POINTS). THE DAY HIGH WAS 5434.50 AND LOW WAS 5323.15. WEEKLY HIGH IS AT 5702.25 AND THE WEEKLY LOW IS AT 5323.15.
5DMA=5438
9DMA=5498
14DMA=5529
20DMA=5549
50DMA=5523
100DMA=5578
200DMA=5690
IMMEDIATE TREND IS NEGATIVE. INTRADAY POSITIVE TREND WILL BE ABOVE 5364. IMMEDIATE INTRADAY SUPPORTS ARE AT 5300, 5280, AND 5250 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5364, 5390 AND 5424 LEVEL.
5-DAY RSI AT 17 AND 14-DAY RSI AT 34.37 INDICATES NIFTY IS IN BEARISH ZONE AND NEAR OVERSOLD ZONE.
BUY NIFTY FUTURE ABOVE 5351 FOR TARGET 5390/5425; STOPLOSS BELOW 5330.
SELL NIFTY FUTURE BELOW 5310 FOR TARGET 5290/5270/5250; STOPLOSS ABOVE 5334.
ALL LEVELS ARE NIFTY SPOT LEVEL. BETTER AVOID TRADING FOR SOME DAYS. WILD VOLATILITY WILL BE SEEN NOW.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
