"NIFTY LEVELS FOR WEDNESDAY (22.02.2012)"

LAST TUESDAY’S (21.02.2012) CLOSE WAS AT 5607.15 (+42.85 POINTS). THE DAY HIGH WAS 5621.50 AND LOW WAS 5561.75. WEEKLY HIGH IS AT 5621.50 AND THE WEEKLY LOW IS AT 5377.95.

5SMA=5528                     9SMA=5466                   14SMA=5409                   20SMA=5327                   50SMA=4995                 100SMA=5005                 200SMA=5173

INTRADAY POSITIVE WILL BE ABOVE 5625 AND NEGATIVE WILL BE BELOW 5600. IMMEDIATE INTRADAY SUPPORTS ARE AT 5600, 5570, 5550 AND 5530 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5624, 5650 AND 5670 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5530-5650.  

5-DAY RSI AT 89.32 AND 14-DAY RSI AT 79.84 INDICATES NIFTY IS IN OVERBOUGHT ZONE. 

BUY NIFTY FUTURE ABOVE 5625 FOR TARGET 5648/5660; STOPLOSS BELOW 5610.

SELL NIFTY FUTURE BELOW 5600 FOR TARGET 5570/5530; STOPLOSS ABOVE 5625.

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

VIX AT 26.25 (+2.07) 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.