LAST TUESDAY’S (04.10.2011) CLOSE WAS AT 4772.15 (- 77.35 POINTS). THE DAY HIGH WAS 4869.75 AND LOW WAS 4728.30. WEEKLY HIGH IS AT 5034.25 AND THE WEEKLY LOW IS AT 4728.30.
5DMA=4905
20DMA=4991
50DMA=5099
200DMA=5485
INTRADAY POSITIVE WILL BE ABOVE 4800 AND NEGATIVE WILL BE BELOW 4760. IMMEDIATE INTRADAY SUPPORTS ARE AT 4767, 4740, 4723, 4710 AND 4688 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4780, 4800, 4824 AND 4845 LEVEL. POSITIONAL LONG MAY BE TAKEN ONLY ABOVE 4911.
5-DAY RSI AT 27 AND 14-DAY RSI AT 38 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4800 FOR TARGET 4824/4845; STOPLOSS BELOW 4780.
SELL NIFTY FUTURE BELOW 4767 FOR TARGET 4720; STOPLOSS ABOVE 4780.
FOR RISKY TRADE: BUY NIFTY FUTURE AROUND 4715-4720 FOR TARGET 4800; STOPLOSS 4700.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 5-10 POINTS. VIX AT 37.19 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.
