LAST TUESDAY’S (09.08.2011) CLOSE WAS AT 5072.85 (- 45.65 POINTS). THE DAY HIGH WAS 5167.00 AND LOW WAS 4946.45. WEEKLY HIGH IS AT 5551.90 AND THE WEEKLY LOW IS AT 4946.45.
5DMA=5228
9DMA=5342
14DMA=5433
20DMA=5479
50DMA=5501
100DMA=5568
200DMA=5676
IMMEDIATE TREND IS NEGATIVE. INTRADAY POSITIVE TREND WILL BE ABOVE 5131 AND INTRADAY NEGATIVE TREND WILL BE BELOW 5089. IMMEDIATE INTRADAY SUPPORTS ARE AT 5080, 5055 AND 5005 LEVEL. IMMEDIATE INTRADAY RESISTANCE ARE AT 5177, 5200 AND 5224 LEVEL.
5-DAY RSI AT 7 AND 14-DAY RSI AT 24.16 INDICATES NIFTY IS IN OVERSOLD ZONE.
BUY NIFTY FUTURE ABOVE 5134 FOR TARGET 5177/5224; STOPLOSS BELOW 5118.
SELL NIFTY FUTURE AROUND 5220 FOR TARGET 5179/5150; STOPLOSS ABOVE 5241.
SELL NIFTY FUTURE BELOW 5089 FOR TARGET 5041/5012; STOPLOSS ABOVE 5110.
BUY BANKNIFTY FUTURE ABOVE 10310 FOR TARGET 10370/10420; STOPLOSS BELOW 10260.
SELL BANKNIFTY FUTURE BELOW 10230 FOR TARGET 10185/10140; STOPLOSS ABOVE 10260.
ALL LEVELS ARE NIFTY SPOT LEVEL. WILD VOLATILITY WILL BE SEEN.
BETTER AVOID TRADING FOR SOME MORE DAYS.
NOTE: ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS.
