LAST WEDNESDAY’S (25.01.2012) CLOSE WAS AT 5158.30 (+ 30.95 POINTS). THE DAY HIGH WAS 5174.15 AND LOW WAS 5130.25. WEEKLY HIGH IS AT 5174.15 AND THE WEEKLY LOW IS AT 5004.30.
5SMA=5080 14SMA=49359SMA=5007 20SMA=4869 50SMA=4825 100SMA=4947 200SMA=5208 |  |
INTRADAY POSITIVE WILL BE ABOVE 5160 AND NEGATIVE WILL BE BELOW 5140. IMMEDIATE INTRADAY SUPPORTS ARE AT 5140, 5131, 5110, 5089, 5070 AND 5050 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5169, 5190, 5205 AND 5221 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5110-5225.
5-DAY RSI AT 93 AND 14-DAY RSI AT 73.83 INDICATES NIFTY IS IN BULLISH ZONE AND VERY CLOSE TO OVERBOUGHT ZONE.
BUY NIFTY FUTURE ABOVE 5180 FOR TARGET 5200/5220; STOPLOSS BELOW 5170.
SELL NIFTY FUTURE BELOW 5170 FOR TARGET 5155/5131; STOPLOSS ABOVE 5180.
FOR RISKY TRADE: GO LONG IN NIFTY FUTURE WITH HEDGING THROUGH BUYING NIFTY 5100PE.ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 21.02 IS INDICATING LESS 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.
