"NIFTY LEVELS FOR TUESDAY (06.03.2012)"

LAST MONDAY’S (05.03.2012) CLOSE WAS AT 5280.35 (-79.05 POINTS). THE DAY HIGH WAS 5344.50 AND LOW WAS 5265.70. WEEKLY HIGH IS AT 5458.80 AND THE WEEKLY LOW IS AT 5265.70.

5SMA=5345                      9SMA=5366                    14SMA=5430                    20SMA=5416                    50SMA=5130                  100SMA=5052                  200SMA=5166

5-DAY RSI AT 28.19 AND 14-DAY RSI AT 46.88 INDICATES NIFTY IS IN BEARISH ZONE. 

INTRADAY POSITIVE WILL BE ABOVE 5310 AND NEGATIVE WILL BE BELOW 5265. IMMEDIATE INTRADAY SUPPORTS ARE AT 5265, 5230, 5200 AND 5175 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5300, 5331, 5367, 5377, 5389 AND 5404 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5200-5370. HUGE VOLATILITY WILL BE SEEN DUE TO ELECTION RESULT. VIX AT 28.92 (+0.72) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5300 FOR TARGET 5350/5400; STOPLOSS BELOW 5265.

SELL NIFTY FUTURE BELOW 5265 FOR TARGET 5230/5110; STOPLOSS ABOVE 5300.

FOR RISKY TRADE: AVOID TRADE FOR TODAY. 

BEST BUY: POWERGRID 115CE AROUND 3 WITH STOPLOSS OF 2 AND HOLD FOR A TARGET OF 7-8 (CALL GIVEN ON 29TH FEB.). 

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.