"NIFTY LEVELS FOR MONDAY (12.03.2012)"

LAST FRIDAY’S (10.03.2012) CLOSE WAS AT 5333.55 (+113.10 POINTS). THE DAY HIGH WAS 5342.30 AND LOW WAS 5291.60. WEEKLY HIGH IS AT 5382.05 AND THE WEEKLY LOW IS AT 5171.45.

5SMA=5283                       9SMA=5320                     14SMA=5370                     20SMA=5399                     50SMA=5163                   100SMA=5057                   200SMA=5164

5-DAY RSI AT 53.80, 9-DAY RSI AT 49.84 AND 14-DAY RSI AT 51.88 INDICATES NIFTY IS IN BULLISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5350 AND NEGATIVE WILL BE BELOW 5310. IMMEDIATE INTRADAY SUPPORTS ARE AT 5310, 5290, 5268 AND 5241 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5350, 5371, 5382, 5400, 5420 AND 5450 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5290-5420.  GLOBAL INDICATORS ARE INDICATING A GAP UP OPENING ABOVE 5382/5400. VIX AT 25.47 (-0.86) IS INDICATING AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5370 FOR TARGET 5390/5420; STOPLOSS BELOW 5350.

SELL NIFTY FUTURE BELOW 5350 FOR TARGET 5330/5310; STOPLOSS ABOVE 5370.

FOR RISKY TRADE:  BUY 5500CE AROUND 65-70 WITH STOPLOSS OF 55 AND HOLD FOR A TARGET OF 90/100 (SMALL QTY);

BEST BUY: WATCH FOR ITC, SBIN, ICICI.

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.