LAST FRIDAY’S (17.02.2012; INDIAN MARKETS WERE CLOSED ON MONDAY DUE TO MAHA SHIVARATRI) CLOSE WAS AT 5564.30 (+42.35 POINTS). THE DAY HIGH WAS 5606.70 AND LOW WAS 5545.20. WEEKLY HIGH IS AT 5606.70 AND THE WEEKLY LOW IS AT 5351.40.
5SMA=5485 9SMA=543614SMA=5380 20SMA=5299 50SMA=4978 100SMA=4997 200SMA=5172 |  |
INTRADAY POSITIVE WILL BE ABOVE 5570 AND NEGATIVE WILL BE BELOW 5550. IMMEDIATE INTRADAY SUPPORTS ARE AT 5550, 5531, 5510, 5490 AND 5450 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5580, 5606 AND 5650 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5510-5650.
5-DAY RSI AT 86.59 AND 14-DAY RSI AT 78.33 INDICATES NIFTY IS IN OVERBOUGHT ZONE.
BUY NIFTY FUTURE ABOVE 5606 FOR TARGET 5645/5660; STOPLOSS BELOW 5590.
SELL NIFTY FUTURE BELOW 5570 FOR TARGET 5530/5510; STOPLOSS ABOVE 5590.FOR RISKY TRADE: BUY 5500/5600 PE FOR MARCH SERIES;
VIX AT 24.18 (+0.85) IS INDICATING LESS THAN AVERAGE VOLATILITY IN THE MARKET.
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.
