NIFTY LEVELS FOR WEDNESDAY (04.04.2012)

LAST TUESDAY’S (03.04.2012) CLOSE WAS AT 5358.50 (+40.60 POINTS). THE DAY HIGH WAS 5378.75 AND LOW WAS 5344.45. WEEKLY HIGH IS AT 5378.75 (LAST TUESDAY) AND THE WEEKLY LOW IS AT 5135.95 (LAST THURSDAY).

5SMA=5269                      9SMA=5253                    14SMA=5277                    20SMA=5359                    50SMA=5325                  100SMA=5074                  200SMA=5147

5-DAY RSI AT 66.67, 9-DAY RSI AT 57.23 AND 14-DAY RSI AT 54.29 INDICATES NIFTY IS IN BULLSH ZONE.
INTRADAY POSITIVE WILL BE ABOVE 5380 AND NEGATIVE WILL BE BELOW 5350. IMMEDIATE INTRADAY SUPPORTS ARE AT 5340, 5331, 5324, 5310, 5302, 5289 AND 5278 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5380, 5400, 5410 AND 5428 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5302-5428.

VIX AT 20.01 (-0.87)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
BUY NIFTY FUTURE ABOVE 5384 FOR TARGET 5400/5428; STOPLOSS BELOW 5370.
SELL NIFTY FUTURE BELOW 5350 FOR TARGET 5331/5310; STOPLOSS ABOVE 5370.

FOR RISKY TRADE:  FRIDAY'S CALL FOR RIL 740CE BETWEEN 20-22 FOR TARGET OF 35-50 WITH STOPLOSS OF 16, 1ST TARGET ACHIEVED (MADE HIGH OF 37) HOPE EVERYBODY EXITED AROUND 35-36 WITH DECENT PROFIT OF RS. 3500/- . THOSE WHO HAVE STILL HOLDING MAY EXIT.

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. (IT WAS OUR CALL AND HOPE EVERYBODY MADE DECENT PROFIT BOTH IN ITC AND PARTICULARLY IN JPASSOCIATES (FROM 78 TO 88!). THOSE WHO WISHES TO TAKE A SMALL AMOUNT RISK, CAN BUY 5900/6000CE @2.00/1.10 (FRIDAY'S CALL ACTIVATED AT 2.10/1.20)

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.