NIFTY LEVELS FOR WEDNESDAY (11.04.2012)

LAST TUESDAY’S (10.04.2012) CLOSE WAS AT 5243.60 (+9.20 POINTS). THE DAY HIGH WAS 5255.80 AND LOW WAS 5211.85. WEEKLY HIGH IS AT 5378.75 AND THE WEEKLY LOW IS AT 5203.65

5SMA=5295                      9SMA=5266                    14SMA=5266                    20SMA=5244                    50SMA=5334                  100SMA=5244                  200SMA=5146

5-DAY RSI AT 42.44, 9-DAY RSI AT 45.36 AND 14-DAY RSI AT 46.83 INDICATES NIFTY IS NEAR BEARISH ZONE.
INTRADAY POSITIVE WILL BE ABOVE 5250 AND NEGATIVE WILL BE BELOW 5224. IMMEDIATE INTRADAY SUPPORTS ARE AT 5224, 5210, 5200, 5177 AND 5151 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5250, 5267, 5276, 5289 AND 5300 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5180-5289. 

VIX AT 21.92 (-0.41)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5250 FOR TARGET 5270/5290; STOPLOSS BELOW 5224.

SELL NIFTY FUTURE BELOW 5224 FOR TARGET 5200/5151; STOPLOSS ABOVE 5250.

FOR RISKY TRADE:  BUY 5900CE ABOVE 1 AND HOLD TILL EXPIRY. 

BEST BUY: AS PER OUR CALL, WE ARE STILL HOLDING ITC (230CE) AND 5200CE (YESTERDAY'S CALL); EXITED EARLIER JPASSOCIATES (80CE) AT 88 AND RIL (740CE) AT 761 ON LAST WEDNESDAY WITH HUGE PROFIT. 

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.