"NIFTY LEVEL FOR FRIDAY (30.03.2012)

LAST THURSDAY’S (29.03.2012-EXPIRY DAY) CLOSE WAS AT 5178.85 (-15.90 POINTS). THE DAY HIGH WAS 5194.30 AND LOW WAS 5135.95. WEEKLY HIGH IS AT 5385.95 AND THE WEEKLY LOW IS AT 5135.95.

5SMA=5216                       9SMA=5245                     14SMA=5297                     20SMA=5297                     50SMA=5306                    100SMA=5071                    200SMA=5150

5-DAY RSI AT 35.89, 9-DAY RSI AT 39.05 AND 14-DAY RSI AT 42.73 INDICATES NIFTY IS IN BEARISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5200 AND NEGATIVE WILL BE BELOW 5177. IMMEDIATE INTRADAY SUPPORTS ARE AT 5170, 5150 AND 5130 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5200, 5227, 5239, 5267 AND 5290 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5110-5250.

VIX AT 24.33 (-0.54)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
BUY NIFTY FUTURE ABOVE 5200 FOR TARGET 5227/5234; STOPLOSS BELOW 5190.
SELL NIFTY FUTURE BELOW 5177 FOR TARGET 5150/5130; STOPLOSS ABOVE 5190.

FOR RISKY TRADE:  BUY RIL 740CE BETWEEN 20-22 FOR TARGET OF 35-50 WITH STOPLOSS OF 16; BUY 5900CE BETWEEN 2-2.25 AND HOLD TILL EXPIRY.

BEST BUY: WATCH FOR ITC (230CE), JPASSOCIATES (80CE). THOSE WHO WISHES TO TAKE A SMALL AMOUNT RISK, CAN BUY 5900/6000CE @2.10/1.30

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.