LAST MONDAY’S (12.12.2011) CLOSE WAS AT 4764.60 (- 102.10 POINTS). THE DAY HIGH WAS 4910.25 AND LOW WAS 4755.55. WEEKLY HIGH IS AT 5099.25 AND THE WEEKLY LOW IS AT 4755.55.
5DMA=4935
9DMA=4922
14DMA=4867
20DMA=4900
50DMA=5015
100DMA=5097
200DMA=5333
INTRADAY POSITIVE WILL BE ABOVE 4800 AND NEGATIVE WILL BE BELOW 4750. IMMEDIATE INTRADAY SUPPORTS ARE AT 4730, 4710 AND 4680 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4800, 4840 AND 4860 LEVEL. EXPECTED RANGE FOR TODAY MAYBE 4710-4860.
5-DAY RSI AT 28 AND 14-DAY RSI AT 39.22 INDICATES NIFTY IS IN BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4800 FOR TARGET 4840/4860/4890; STOPLOSS BELOW 4790.
SELL NIFTY FUTURE BELOW 4750 FOR TARGET 4710; STOPLOSS ABOVE 4780.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE AROUND 4715 LEVEL WITH STOPLOSS BELOW 4690 FOR TARGET OF 4900-4950 POSITIONALLY.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 29.27 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.
