LAST MONDAY’S (09.01.2012) CLOSE WAS AT 4742.80 (- 4.10 POINTS). THE DAY HIGH WAS 4758.70 AND LOW WAS 4695.45. WEEKLY HIGH IS AT 4782.85 AND THE WEEKLY LOW IS AT 4675.80.
5DMA=4752
9DMA=4712
14DMA=4721
20DMA=4708
50DMA=4890
100DMA=4943
200DMA=5258
INTRADAY POSITIVE WILL BE ABOVE 4750 AND NEGATIVE WILL BE BELOW 4730. IMMEDIATE INTRADAY SUPPORTS ARE AT 4731, 4724, 4711, 4700, 4682 AND 4667 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4750, 4770, 4784, 4800, 4818 AND 4835 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4667-4820.
5-DAY RSI AT 56 AND 14-DAY RSI AT 47.86 INDICATES NIFTY IS IN NEUTRAL ZONE.
BUY NIFTY FUTURE ABOVE 4755 FOR TARGET 4770/4790; STOPLOSS BELOW 4750.
SELL NIFTY FUTURE BELOW 4730 FOR TARGET 4710/4685; STOPLOSS ABOVE 4750.
FOR RISKY TRADE: BUY NIFTY 4800CE AROUND 4700-4710 LEVEL WITH STOPLOSS 4680; TARGET 4800 (SPOT). TILL NIFTY BREAKS OUT ABOVE 4840 OR BREAKS DOWN BELOW 4660/4530, TILL THEN INTRADAY TRADING WITHIN THE RANGE IS FRUITFUL.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 25.68 IS INDICATING MORE 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.
