LAST WEDNESDAY’S (03.08.2011) CLOSE WAS AT 5404.80 (- 51.75 POINTS). THE DAY HIGH WAS 5422.60 AND LOW WAS 5378.85. WEEKLY HIGH IS AT 5702.25 AND THE WEEKLY LOW IS AT 5378.85.
5DMA=5470
9DMA=5532
14DMA=5547
20DMA=5569
50DMA=5525
100DMA=5580
200DMA=5693
IMMEDIATE TREND IS NEGATIVE. INTRADAY POSITIVE TREND WILL BE ABOVE 5424. IMMEDIATE INTRADAY SUPPORTS ARE AT 5370, AND 5350 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5424, 5450 AND 5467 LEVEL.
5-DAY RSI AT 24 AND 14-DAY RSI AT 38.86 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 5431 FOR TARGET 5450/5565; STOPLOSS BELOW 5410.
SELL NIFTY FUTURE BELOW 5402 FOR TARGET 5390/5370/5350; STOPLOSS ABOVE 5424.
AVOID BANKNIFTY TODAY DUE TO VOLATILITY
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
