LAST MONDAY’S (03.10.2011) CLOSE WAS AT 4849.50 (- 93.75 POINTS). THE DAY HIGH WAS 4879.15 AND LOW WAS 4823.90. WEEKLY HIGH IS AT 5034.25 AND THE WEEKLY LOW IS AT 4758.85.
5DMA=4945
9DMA=4943
14DMA=4988
20DMA=5006
50DMA=5115
100DMA=5311
200DMA=5491
INTRADAY POSITIVE WILL BE ABOVE 4880 AND NEGATIVE WILL BE BELOW 4824. IMMEDIATE INTRADAY SUPPORTS ARE AT 4824, 4800 AND 4770 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4877, 4911, 4934 AND 4955 LEVEL.
5-DAY RSI AT 34 AND 14-DAY RSI AT 41.08 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4880 FOR TARGET 4911/4930; STOPLOSS BELOW 4860.
SELL NIFTY FUTURE BELOW 4840 FOR TARGET 4820/4800; STOPLOSS ABOVE 4860.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 35.07 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.
