LAST THURSDAY’S (11.08.2011) CLOSE WAS AT 5138.30 (- 22.70 POINTS). THE DAY HIGH WAS 5184.95 AND LOW WAS 5121.00. WEEKLY HIGH IS AT 5551.90 AND THE WEEKLY LOW IS AT 4946.45.
5DMA=5140
20DMA=5434
50DMA=5484
200DMA=5667
GAP UP OPENING IS EXPECTED. INTRADAY POSITIVE WILL BE ABOVE 5177 AND NEGATIVE WILL BE BELOW 5111. IMMEDIATE INTRADAY SUPPORTS ARE AT 5120, 5111, 5100 AND 4980 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5177, 5200 AND 5224 LEVEL.
5-DAY RSI AT 28 AND 14-DAY RSI AT 31 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE AROUND 5155 FOR TARGET 5174/5189/5210; STOPLOSS BELOW 5141.
SELL NIFTY FUTURE BELOW 5131 FOR TARGET 5110/5088/5067; STOPLOSS ABOVE 5155.
BUY BANKNIFTY FUTURE ABOVE 10400 FOR TARGET 10468/10520/10560; STOPLOSS 10375.
ALL LEVELS ARE NIFTY SPOT LEVEL. VOLATILITY WILL BE SEEN.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
