"NIFTY LEVELS FOR TUESDAY (03.04.2012)"

LAST MONDAY’S (02.04.2012) CLOSE WAS AT 5317.90 (+22.35 POINTS). THE DAY HIGH WAS 5331.55 AND LOW WAS 5278.80. WEEKLY HIGH IS AT 5331.55 (LAST MONDAY) AND THE WEEKLY LOW IS AT 5135.95 (LAST THURSDAY).

5SMA=5246                      9SMA=5254                    14SMA=5284                    20SMA=5291                    50SMA=5319                  100SMA=5072                  200SMA=5148

5-DAY RSI AT 60.95, 9-DAY RSI AT 53.61 AND 14-DAY RSI AT 51.86 INDICATES NIFTY IS NEAR BULLSH ZONE.
INTRADAY POSITIVE WILL BE ABOVE 5331 AND NEGATIVE WILL BE BELOW 5310. IMMEDIATE INTRADAY SUPPORTS ARE AT 5310, 5302, 5289, 5278, 5267, 5250 AND 5227 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5324, 5331, 5340, 5357 AND 5390 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5278-5390.

VIX AT 20.88 (-1.50)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
BUY NIFTY FUTURE ABOVE 5336 FOR TARGET 5358/5385; STOPLOSS BELOW 5310.
SELL NIFTY FUTURE BELOW 5310 FOR TARGET 5289/5278; STOPLOSS ABOVE 5331.

FOR RISKY TRADE:  RIL 740CE BETWEEN 20-22 FOR TARGET OF 35-50 WITH STOPLOSS OF 16 AND BUY 5900CE BETWEEN 2-2.25 FOR HOLDING TILL EXPIRY, ACTIVATED BOTH CALLS ON FRIDAY. 

BEST BUY: AS INDICATED ON FRIDAY, ITC (230CE), JPASSOCIATES (80CE) WERE ACTIVATED AND GIVES US A GOOD PROFIT. AROUND 5350-60 (NIFTY SPOT), EXIT FROM ALL CALLS. THOSE WHO WISHES TO TAKE A SMALL AMOUNT RISK, CAN BUY 5900/6000CE @2.10/1.30 (FRIDAY'S CALLS ACTIVATED)

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.