LAST FRIDAY’S (23.09.2011) CLOSE WAS AT 4867.75 (- 55.90 POINTS). THE DAY HIGH WAS 4930.25 AND LOW WAS 4829.60. WEEKLY HIGH IS AT 5149.90 AND THE WEEKLY LOW IS AT 4829.60.
5DMA=5019
9DMA=5023
14DMA=5039
20DMA=5006
50DMA=5193
100DMA=5347
200DMA=5520
INTRADAY POSITIVE WILL BE ABOVE 4890 AND NEGATIVE WILL BE BELOW 4840. IMMEDIATE INTRADAY SUPPORTS ARE AT 4860, 4848, 4824 AND 4800 LEVEL. BELOW 4800, EXIT ALL LONGS, IF ANY. IMMEDIATE INTRADAY RESISTANCE ARE AT 4889, 4910, 4940, 4963, 4985, AND 5000 LEVEL.
5-DAY RSI AT 28 AND 14-DAY RSI AT 39.23 INDICATES NIFTY IS NEAR BEARISH ZONE.
BUY NIFTY FUTURE AROUND 4840-4860 FOR TARGET 4910/4930; STOPLOSS BELOW 4820.
SELL NIFTY FUTURE BELOW 4840 FOR TARGET 4820/4810; STOPLOSS ABOVE 4860
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 35.36 INDICATING MORE THAN AVERAGE VOLATILITY. A SMALL GAP-UP OPENING IS EXPECTED SUBJECT TO ASIAN MARKETS CONDITION.
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.
