LAST WEDNESDAY’S (21.12.2011) CLOSE WAS AT 4693.15 (+ 148.95 POINTS). THE DAY HIGH WAS 4707.35 AND LOW WAS 4601.95. WEEKLY HIGH IS AT 4839.55 AND THE WEEKLY LOW IS AT 4531.15
5DMA=4650
9DMA=4715
14DMA=4820
20DMA=4807
50DMA=4978
100DMA=5035
200DMA=5307
INTRADAY POSITIVE WILL BE ABOVE 4710 AND NEGATIVE WILL BE BELOW 4680. IMMEDIATE INTRADAY SUPPORTS ARE AT 4680, 4664, 4651 AND 4640 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4710, 4755 AND 4780 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4630-4750.
5-DAY RSI AT 47 AND 14-DAY RSI AT 41.5 INDICATES NIFTY IS IN BEARISH ZONE.
GAP DOWN OPENING/CONSOLIDATION IS EXPECTED.
BUY NIFTY FUTURE AROUND 4640 FOR TARGET 4680/4710; STOPLOSS BELOW 4620.
SELL NIFTY FUTURE BELOW 4690 FOR TARGET 4660/4640; STOPLOSS ABOVE 4710.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 27.53 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.
