LAST FRIDAY’S (26.08.2011) CLOSE WAS AT 4747.80 (- 91.80 POINTS). THE DAY HIGH WAS 4872.00 AND LOW WAS 4720.00. WEEKLY HIGH IS AT 5132.20 AND THE WEEKLY LOW IS AT 4720.00.
5DMA=4865
9DMA=4912
14DMA=4989
20DMA=5108
50DMA=5370
100DMA=5488
200DMA=5605
INTRADAY POSITIVE WILL BE ABOVE 4760 AND NEGATIVE WILL BE BELOW 4740. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4711, 4700 AND 4675 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 4786, 4800, 4811 AND 4834 LEVEL.
5-DAY RSI AT 18 AND 14-DAY RSI AT 24.64 INDICATES NIFTY IS IN BEARISH BUT OVERSOLD ZONE.
BUY NIFTY FUTURE AROUND 4720-4730 FOR TARGET OF 4780/4800; STOPLOSS BELOW 4700.
SELL NIFTY FUTURE AROUND 4790-4800 FOR TARGET OF 4740/4710; STOPLOSS ABOVE 4820.
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 SHORT AROUND 4840-4850 AREA WITH STOPLOSS OF 4870 FOR TARGET OF 4700/4650.
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.
