LAST FRIDAY’S (19.08.2011) CLOSE WAS AT 4845.65 (- 98.50 POINTS). THE DAY HIGH WAS 4893.60 AND LOW WAS 4796.10. WEEKLY HIGH IS AT 5204.20 AND THE WEEKLY LOW IS AT 4796.10.
5DMA=4991
9DMA=5049
14DMA=5169
20DMA=5288
50DMA=5430
100DMA=5535
200DMA=5640
INTRADAY POSITIVE WILL BE ABOVE 4890 AND NEGATIVE WILL BE BELOW 4840. IMMEDIATE INTRADAY SUPPORTS ARE AT 4800, 4786, AND 4746 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 4864, 4890, 4934 AND 4955 LEVEL.
5-DAY RSI AT 12 AND 14-DAY RSI AT 22.33 INDICATES NIFTY IS IN BEARISH AND OVERSOLD ZONE.
BUY NIFTY FUTURE AROUND 4782 FOR TARGET OF 4850/4900; STOPLOSS BELOW 4750.
SELL NIFTY FUTURE BELOW 4840 FOR TARGET OF 4800/4780; STOPLOSS ABOVE 4867.
ALL LEVELS ARE NIFTY SPOT LEVEL. VIX INDICATES MORE THAN AVERAGE VOLATILITY. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. POSITINOAL TRADERS CAN GO LONG ONLY AROUND 4820/4840 AREA WITH STOPLOSS OF 4800.
FOR BANKNIFTY, BETTER AVOID FOR THE TIME BEING.
NOTE: THE ABOVE CALLS MAY NOT BE TAKEN AS RECOMMENDATIONS. THIS IS ONLY MY VIEW/TRADING IDEA. IT IS ADVISED THAT EACH AND EVERY BLOG VISITORS/TRADERS/INVESTORS DO THEIR OWN RESEARCH AND/OR CONSULT FINANCIAL ADVISERS BEFORE TAKING ANY ACTION ON THE ABOVE MENTIONED CALLS.
