LAST TUESDAY’S (24.01.2012) CLOSE WAS AT 5127.35 (+ 81.10 POINTS). THE DAY HIGH WAS 5141.05 AND LOW WAS 5049.80. WEEKLY HIGH IS AT 5141.05 AND THE WEEKLY LOW IS AT 4931.05.
5SMA=5039 9SMA=4971 20SMA=4843 50SMA=4823 100SMA=4946 200SMA=5212 |
INTRADAY POSITIVE WILL BE ABOVE 5141 AND NEGATIVE WILL BE BELOW 5110. IMMEDIATE INTRADAY SUPPORTS ARE AT 5110, 5089, 5070, 5050 AND 5032 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5141, 5150, 5169, 5190 AND 5205 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5067-5205.
5-DAY RSI AT 92 AND 14-DAY RSI AT 72.36 INDICATES NIFTY IS IN BULLISH ZONE AND VERY CLOSE TO OVERBOUGHT ZONE.
BUY NIFTY FUTURE ABOVE 5140 FOR TARGET 5170/5190; STOPLOSS BELOW 5125.
SELL NIFTY FUTURE BELOW 5120 FOR TARGET 5100/5070; STOPLOSS ABOVE 5135.
FOR RISKY TRADE: AVOID ANY OPTION FOR JANUARY SERIES. WATCH JPASSOCIATES FOR FEBRUARY SERIES.ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 21.42 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.
