LAST FRIDAY’S (28.10.2011) CLOSE WAS AT 5360.70 (+ 158.90 POINTS). THE DAY HIGH WAS 5399.70 AND LOW WAS 53227.80. WEEKLY HIGH IS AT 5399.70 AND THE WEEKLY LOW IS AT 5011.05.
5DMA=5159
9DMA=5143
14DMA=5111
20DMA=5026
50DMA=5005
100DMA=5240
200DMA=5412
INTRADAY POSITIVE WILL BE ABOVE 5412 AND NEGATIVE WILL BE BELOW 5350. IMMEDIATE INTRADAY SUPPORTS ARE AT 5337, 5322, 5300 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5380, 5412, 5432 AND 5450 LEVEL. POSITIONAL LONG MAY BE TAKEN ABOVE 5425 WITH STOPLOSS OF 5400 FOR TARGET OFR 5500 AND 5550.
5-DAY RSI AT 69 AND 14-DAY RSI AT 66 .05 INDICATES NIFTY IS IN BULLISH ZONE WITH POSITIVE BIAS.
BUY NIFTY FUTURE ABOVE 5380 FOR TARGET 5400/5424; STOPLOSS BELOW 5360.
SELL NIFTY FUTURE BELOW 5360 FOR TARGET 5320/5300; STOPLOSS ABOVE 5380.
FOR RISKY TRADE: TRADE BETWEEN 5350 AND 5400 WITH MINOR STOPLOSS FOR MINOR PROFIT IN BOTH WAYS. WATCH FOR ABANOFFSHORE, AROUND 410-412 (IF YOU GET TODAY), GRAB IT FOR TARGET OF 460 (WITHIN THIS EXPIRY); EVEN LOOK FOR 450CE.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 20.89 IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
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.
