LAST WEDNESDAY’S (18.01.2012) CLOSE WAS AT 4955.80 (- 11.50 POINTS). THE DAY HIGH WAS 4980.65 AND LOW WAS 4931.05. WEEKLY HIGH IS AT 4980.65 AND THE WEEKLY LOW IS AT 4803.90.
5SMA=4899 9SMA=485514SMA=4811 20SMA=4779 50SMA=4830 100SMA=4937 200SMA=5228 |
INTRADAY POSITIVE WILL BE ABOVE 4960 AND NEGATIVE WILL BE BELOW 4950. IMMEDIATE INTRADAY SUPPORTS ARE AT 4950, 4930, 4911 AND 4890 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4970, 4990, 5000 AND 5020 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4890-5030.
5-DAY RSI AT 80 AND 14-DAY RSI AT 62.73 INDICATES NIFTY IS IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 4970 FOR TARGET 4990/5020; STOPLOSS BELOW 4950.
SELL NIFTY FUTURE BELOW 4950 FOR TARGET 4930/4910; STOPLOSS ABOVE 4970.
FOR RISKY TRADE: GO SHORT IN NIFTY FUTURE IF IT BREACHED 4930 WITH STRICT STOPLOSS ABOVE 4941 FOR TARGET 4890/4860 (POSITION-WISE).ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 22.68 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.
