LAST THURSDAY’S (05.01.2012) CLOSE WAS AT 4749.95 (+ 0.30 POINTS). THE DAY HIGH WAS 4779.80 AND LOW WAS 4730.15. WEEKLY HIGH IS AT 4782.85 AND THE WEEKLY LOW IS AT 4588.05.
5DMA=4705
9DMA=4712
14DMA=4693
20DMA=4715
50DMA=4911
100DMA=4955
200DMA=5265
INTRADAY POSITIVE WILL BE ABOVE 4750 AND NEGATIVE WILL BE BELOW 4730. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4724, 4711, 4700 AND 4682 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4750, 4767, 4784, 4800, 4818 AND 4835 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4680-4820.
5-DAY RSI AT 60 AND 14-DAY RSI AT 48.43 INDICATES NIFTY IS IN NEUTRAL/MILD BEARISH ZONE.
BUY NIFTY FUTURE ABOVE 4760 FOR TARGET 4770/4790; STOPLOSS BELOW 4750.
SELL NIFTY FUTURE BELOW 4753 FOR TARGET 4731/4710; STOPLOSS ABOVE 4760.
FOR RISKY TRADE: BUY NIFTY 4800CE AROUND 4700-4710 LEVEL WITH STOPLOSS 4680; TARGET 4800 (SPOT)
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 25.91 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.
