LAST FRIDAY’S (27.01.2012) CLOSE WAS AT 5204.70 (+ 46.40 POINTS). THE DAY HIGH WAS 5217.00 AND LOW WAS 5162.40. WEEKLY HIGH IS AT 5217.00 AND THE WEEKLY LOW IS AT 5004.30.
5SMA=5117 9SMA=5045 14SMA=4968 20SMA=4898 50SMA=4831 100SMA=4949 200SMA=5205 |
INTRADAY POSITIVE WILL BE ABOVE 5224 AND NEGATIVE WILL BE BELOW 5170. IMMEDIATE INTRADAY SUPPORTS ARE AT 5190, 5177, 5140, 5131 AND 5110 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5205, 5221 AND 5250 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5110-5225.
5-DAY RSI AT 95 AND 14-DAY RSI AT 75.89 INDICATES NIFTY IS IN BULLISH BUT OVERBOUGHT ZONE.
BUY NIFTY FUTURE ABOVE 5224 FOR TARGET 5250/5264; STOPLOSS BELOW 5205.
SELL NIFTY FUTURE BELOW 5205 FOR TARGET 5170/5131; STOPLOSS ABOVE 5224.
FOR RISKY TRADE: BUY NIFTY 5100PE AROUND 58-60 FOR TARGET OF 85-90; STOPLOSS NIFTY 5225 (SPOT). BUY RIL 840CE AROUND 15-16 FOR TARGET OF 32-35; STOPLOSS RIL 800 (SPOT PRICE); BUY BAJAJHIND 40CE AROUND 0.50-0.55 FOR TARGET OF 1.00; STOPLOSS BAJAJHIND 33.50 (SPOT PRICE).ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 21.70 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.
