LAST WEDNESDAY’S (11.01.2012) CLOSE WAS AT 4860.95 (+ 11.40 POINTS). THE DAY HIGH WAS 4877.20 AND LOW WAS 4841.60. WEEKLY HIGH IS AT 4877.20 AND THE WEEKLY LOW IS AT 4695.45.
5DMA=4791
20DMA=4716
50DMA=4879
200DMA=5252
INTRADAY POSITIVE WILL BE ABOVE 4860 AND NEGATIVE WILL BE BELOW 4840. IMMEDIATE INTRADAY SUPPORTS ARE AT 4840, 4818, 4800, 4784, 4767 AND 4750 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4860, 4881, 4894, 4910 AND 4937 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4770-4910.
5-DAY RSI AT 79 AND 14-DAY RSI AT 57.11 INDICATES NIFTY IS ENTERING INTO BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 4860 FOR TARGET 4890/4910; STOPLOSS BELOW 4840.
SELL NIFTY FUTURE BELOW 4840 FOR TARGET 4820/4800/4784; STOPLOSS ABOVE 4850.
FOR RISKY TRADE: YESTERDAY’S CALL WAS TO BUY INFY 2800PE AROUND 55-56 WITH STOPLOSS OF 42 AND HOLD TILL 12TH JAN., 2012. TGT=75 & 90. IT HITS A LOW OF 51.15 CLOSED ABOVE 77 WITH A HIGH OF 79.85. THOSE WHO STILL HOLDING NOW CHANGE STOPLOSS JUST BELOW 75 FOR THE TARGET OF 90 (SECOND TARGET).
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 24.54 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.
