"NIFTY LEVELS FOR FRIDAY (02.03.2012)"

LAST THURSDAY’S (01.03.2012) CLOSE WAS AT 5339.75 (-45.45 POINTS). THE DAY HIGH WAS 5372.45 AND LOW WAS 5297.50. WEEKLY HIGH IS AT 5521.40 AND THE WEEKLY LOW IS AT 5268.15.

5SMA=5362                      9SMA=5441                    14SMA=5444                    20SMA=5414                    50SMA=5094                  100SMA=5040                  200SMA=5168

5-DAY RSI AT 37.12 AND 14-DAY RSI AT 51.61 INDICATES NIFTY IS IN NEUTRAL ZONE.INTRADAY POSITIVE WILL BE ABOVE 5351 AND NEGATIVE WILL BE BELOW 5325. IMMEDIATE INTRADAY SUPPORTS ARE AT 5331, 5301, 5270, 5250 AND 5224 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5350, 5367, 5377, 5389, 5404 AND 5420 LEVEL. EXPECTED TRADING RANGE FOR TODAY PROBABLY BETWEEN 5300-5420.

BUY NIFTY FUTURE ABOVE 5355 FOR TARGET 5370/5400; STOPLOSS BELOW 5330.

SELL NIFTY FUTURE BELOW 5330 FOR TARGET 5310/5300; STOPLOSS ABOVE 5350.

FOR RISKY TRADE: BUY 5500CE AROUND 95 WITH STOPLOSS OF 84 AND HOLD FOR A TARGET OF 140 (SMALL QTY);

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

VIX AT 27.67 (+0.74) IS INDICATING MORE 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.