LAST FRIDAY’S (20.01.2012) CLOSE WAS AT 5048.60 (+ 30.20 POINTS). THE DAY HIGH WAS 5064.15 AND LOW WAS 5004.30. WEEKLY HIGH IS AT 5064.15 AND THE WEEKLY LOW IS AT 4827.05.
5SMA=4973 14SMA=48589SMA=4919 20SMA=4807 50SMA=4824 100SMA=4941 200SMA=5220 |  |
INTRADAY POSITIVE WILL BE ABOVE 5050 AND NEGATIVE WILL BE BELOW 5030. IMMEDIATE INTRADAY SUPPORTS ARE AT 5034, 5020, 5000, 4970, 4950 AND 4930 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5054, 5070, 5099 AND 5130 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4970-5110.
5-DAY RSI AT 88 AND 14-DAY RSI AT 68.28 INDICATES NIFTY IS IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5055 FOR TARGET 5070/5099; STOPLOSS BELOW 5031.
SELL NIFTY FUTURE BELOW 5030 FOR TARGET 5000/4970; STOPLOSS ABOVE 5050.
FOR RISKY TRADE: WATCH RIL. IT MAY DRAG THE MARKET TODAY.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 21.96 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.
