LAST TUESDAY’S (20.12.2011) CLOSE WAS AT 4544.20 (- 68.90 POINTS). THE DAY HIGH WAS 4637.25 AND LOW WAS 4531.15. WEEKLY HIGH IS AT 4839.55 AND THE WEEKLY LOW IS AT 4531.15.
5DMA=4664
9DMA=4744
14DMA=4830
20DMA=4813
50DMA=4988
100DMA=5043
200DMA=5310
INTRADAY POSITIVE WILL BE ABOVE 4600 AND NEGATIVE WILL BE BELOW 4530. IMMEDIATE INTRADAY SUPPORTS ARE AT 4530, 4510, 4500 AND 4480 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4560, 4575, 4600, 4630 AND 4648 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4510-4650.
5-DAY RSI AT 14 AND 14-DAY RSI AT 30.62 INDICATES NIFTY IS IN HIGHLY OVERSOLD ZONE.
GAP UP OPENING (AT PAR WITH GLOBAL MARKETS – AS OF NOW) IS EXPECTED.
BUY NIFTY FUTURE ABOVE 4540 FOR TARGET 4600/4630; STOPLOSS BELOW 4520.
SELL NIFTY FUTURE BELOW 4530 FOR TARGET 4510/4480; STOPLOSS ABOVE 4520.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4530 LEVEL WITH STOPLOSS BELOW 4510 FOR TARGET OF 4680-4700 POSITIONALLY.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 30.53 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.
