"NIFTY LEVELS FOR FRIDAY (24.02.2012)"

LAST THURSDAY’S (23.02.2012) CLOSE WAS AT 5483.30 (-22.05 POINTS). THE DAY HIGH WAS 5537.40 AND LOW WAS 5460.80. WEEKLY HIGH IS AT 5629.95 AND THE WEEKLY LOW IS AT 5460.80.   

5SMA=5536                    9SMA=5489                  14SMA=5443                  20SMA=5368                  50SMA=5023                100SMA=5016                200SMA=5172

INTRADAY POSITIVE WILL BE ABOVE 5500 AND NEGATIVE WILL BE BELOW 5460. IMMEDIATE INTRADAY SUPPORTS ARE AT 5460, 5450, 5430 AND 5400 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5500, 5524, 5550 AND 5570 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5425-5550.  

5-DAY RSI AT 50.47 AND 14-DAY RSI AT 65.43 INDICATES NIFTY IS IN BULLISH ZONE. VIX AT 24.33 (-2.47) IS INDICATING LESS THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5500 FOR TARGET 5530/5570; STOPLOSS BELOW 5480.

SELL NIFTY FUTURE BELOW 5460 FOR TARGET 5430/5410; STOPLOSS ABOVE 5480.

FOR RISKY TRADE: BUY 6000CE AROUND 15 AND HOLD FOR TARGET OF 30.

ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. 

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.