LAST WEDNESDAY’S (14.12.2011) CLOSE WAS AT 4763.25 (- 37.35 POINTS). THE DAY HIGH WAS 4839.55 AND LOW WAS 4750.40. WEEKLY HIGH IS AT 5099.25 AND THE WEEKLY LOW IS AT 4728.50.
5DMA=4828
9DMA=4914
14DMA=4870
20DMA=4868
50DMA=5008
100DMA=5009
200DMA=5326
INTRADAY POSITIVE WILL BE ABOVE 4784 AND NEGATIVE WILL BE BELOW 4750. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4710 AND 4680 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4764, 4789, 4800, 4824 AND 4851 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4710-4840.
5-DAY RSI AT 31 AND 14-DAY RSI AT 39.86 INDICATES NIFTY STILL IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4800 FOR TARGET 4840/4860; STOPLOSS BELOW 4787.
SELL NIFTY FUTURE BELOW 4760 FOR TARGET 4730/4710; STOPLOSS ABOVE 4784.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4800 LEVEL WITH STOPLOSS BELOW 4790 FOR TARGET OF 4900-4950 POSITIONALLY.
BUY GMRINFRA 20CE AROUND 0.40/0.45 FOR TARGET 1.00/1.10; STOPLOSS BELOW 0.30 (LOT SIZE=8000) THOSE WHO BOUGHT GMRINFRA 20CE @0.60 YESTERDAY MAY HOLD WITH STOPLOSS BELOW 0.40 (AS SUGGESTED YESTERDAY)
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 28.79 IS 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.
