LAST FRIDAY’S (30.09.2011) CLOSE WAS AT 4943.25 (- 72.20 POINTS). THE DAY HIGH WAS 5025.55 AND LOW WAS 4924.30. WEEKLY HIGH IS AT 5034.25 AND THE WEEKLY LOW IS AT 4758.85.
5DMA=4942
9DMA=4975
14DMA=4994
20DMA=5014
50DMA=5129
100DMA=5318
200DMA=5496
INTRADAY POSITIVE WILL BE ABOVE 4960 AND NEGATIVE WILL BE BELOW 4934. IMMEDIATE INTRADAY SUPPORTS ARE AT 4940, 4931, 4911, 4900 AND 4885 LEVEL. BELOW 4880, EXIT FROM ALL LONGS, IF ANY. IMMEDIATE INTRADAY RESISTANCES ARE AT 4960, 4990, 5015, 5035 AND 5050 LEVEL.
5-DAY RSI AT 45 AND 14-DAY RSI AT 45.46 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE AROUND 4900 FOR TARGET 4934/4950/4970; STOPLOSS BELOW 4884.
SELL NIFTY FUTURE BELOW 4880 FOR TARGET 4860/4840/4810; STOPLOSS ABOVE 4914.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 31.94 IS STILL INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET. A GAP-DOWN 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.
