"NIFTY LEVELS FOR THURSDAY (23.02.2012)"

LAST WEDNESDAY’S (22.02.2012) CLOSE WAS AT 5505.35 (-101.80 POINTS). THE DAY HIGH WAS 5629.95 AND LOW WAS 5491.35. WEEKLY HIGH IS AT 5629.95 AND THE WEEKLY LOW IS AT 5483.75.   

5SMA=5546                     9SMA=5481                   14SMA=5428                   20SMA=5350                   50SMA=5009                 100SMA=5005                 200SMA=5173

INTRADAY POSITIVE WILL BE ABOVE 5531 AND NEGATIVE WILL BE BELOW 5490. IMMEDIATE INTRADAY SUPPORTS ARE AT 5490, 5467, 5450 AND 5430 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5530, 5550, 5570, 5600 AND 5624 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5450-5620.  

5-DAY RSI AT 55.63 AND 14-DAY RSI AT 67.75 INDICATES NIFTY IS IN OVERBOUGHT ZONE. VIX AT 26.80 (+0.55) IS INDICATING AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5530 FOR TARGET 5570/5600; STOPLOSS BELOW 5510.

SELL NIFTY FUTURE BELOW 5490 FOR TARGET 5450/5430; STOPLOSS ABOVE 5510.

FOR RISKY TRADE: BUY 5500/5600 PE FOR MARCH SERIES.

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.