LAST WEDNESDAY’S (12.10.2011) CLOSE WAS AT 5099.40 (+ 125.05 POINTS). THE DAY HIGH WAS 5109.80 AND LOW WAS 4997.65. WEEKLY HIGH IS AT 5109.80 AND THE WEEKLY LOW IS AT 4728.30.
5DMA=4939
9DMA=4919
14DMA=4916
20DMA=4965
50DMA=5035
100DMA=5277
200DMA=5460
INTRADAY POSITIVE WILL BE ABOVE 5115 AND NEGATIVE WILL BE BELOW 5089. IMMEDIATE INTRADAY SUPPORTS ARE AT 5088, 5067, 5041, 5022 AND 5000 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5115, 5133, 5150, 5168, 5189 AND 5200 LEVEL. POSITIONAL LONG MAY BE TAKEN ABOVE 5115.
5-DAY RSI AT 74 AND 14-DAY RSI AT 56.35 INDICATES NIFTY IS STILL IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5115 FOR TARGET 5150/5168; STOPLOSS BELOW 5100.
SELL NIFTY FUTURE BELOW 5088 FOR TARGET 5067/5045; STOPLOSS ABOVE 5100.
FOR RISKY TRADE: BUY NIFTY FUTURE AROUND 5092 FOR TARGET 5110; STOPLOSS BELOW 5077.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 28.41 IS STILL INDICATING MORE THAN 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.
