"NIFTY LEVELS FOR FRIDAY (09.03.2012)"

LAST WEDNESDAY’S (07.03.2012) CLOSE WAS AT 5220.45 (-1.95 POINTS). THE DAY HIGH WAS 5243.85 AND LOW WAS 5171.45. WEEKLY HIGH IS AT 5382.05 AND THE WEEKLY LOW IS AT 5171.45.

5SMA=5288                        9SMA=5314                      14SMA=5387                      20SMA=5403                      50SMA=5149                    100SMA=5055                    200SMA=5164

5-DAY RSI AT 21.44 AND 14-DAY RSI AT 42.86 INDICATES NIFTY IS IN BEARISH ZONE. 

INTRADAY POSITIVE WILL BE ABOVE 5241 AND NEGATIVE WILL BE BELOW 5200. IMMEDIATE INTRADAY SUPPORTS ARE AT 5200, 5170, 5150, 5110 AND 5080 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5240, 5268, 5294, 5330 AND 5350 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5170-5330. VIX AT 26.33 (-1.01) IS INDICATING AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5241 FOR TARGET 5268/5300; STOPLOSS BELOW 5220.

SELL NIFTY FUTURE BELOW 5220 FOR TARGET 5210/5170; STOPLOSS ABOVE 5241.

FOR RISKY TRADE:  GO LONG FROM 5200 WITH ABILITY TO ADD MORE AT 5170 WITH STOPLOSS OF 5150; OR BUY 5500CE AT/AROUND 40 WITH STOPLOSS OF 32 FOR TARGET OF 68-70 (TILL 15TH MARCH).

BEST BUY: WATCH ITC, DABUR AND BALRAMPUR CHINI ON LONG SIDE.
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.