LAST WEDNESDAY’S (01.02.2012) CLOSE WAS AT 5235.70 (+36.45 POINTS). THE DAY HIGH WAS 5244.60 AND LOW WAS 5159.00. WEEKLY HIGH IS AT 5244.60 AND THE WEEKLY LOW IS AT 5120.15.
5SMA=5177 9SMA=512514SMA=5044 20SMA=4966 50SMA=4851 100SMA=4952 200SMA=5195 |  |
INTRADAY POSITIVE WILL BE ABOVE 5241 AND NEGATIVE WILL BE BELOW 5220. IMMEDIATE INTRADAY SUPPORTS ARE AT 5221, 5200, 5177, 5155 AND 5131 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5250, 5265, 5289 AND 5300 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5177-5289.
5-DAY RSI AT 74 AND 14-DAY RSI AT 69.86 INDICATES NIFTY IS IN BULLISH ZONE.
BUY NIFTY FUTURE ABOVE 5245 FOR TARGET 5265/5290; STOPLOSS BELOW 5224.
SELL NIFTY FUTURE BELOW 5220 FOR TARGET 5200/5180; STOPLOSS ABOVE 5241.
FOR RISKY TRADE: WATCH CAIRN 460CE AND RIL 860CE.
ALL LEVELS ARE NIFTY SPOT LEVEL. ONE MAY PLACE A FILTER OF (+/-) 10-15 POINTS. VIX AT 22.89 (+0.23) 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.
