NIFTY LEVELS FOR WEDNESDAY (18.04.2012)

LAST TUESDAY’S (17.04.2012) CLOSE WAS AT 5294.30 (+68.10 POINTS). THE DAY HIGH WAS 5298.20 AND LOW WAS 5208.35. WEEKLY HIGH IS AT 5306.75 AND THE WEEKLY LOW IS AT 5183.50 

5SMA=5245                      9SMA=5265                    14SMA=5258                    20SMA=5290                    50SMA=5339                  100SMA=5290                  200SMA=5143

5-DAY RSI AT 58.63, 9-DAY RSI AT 52.81 AND 14-DAY RSI AT 51.05 INDICATES NIFTY IS IN NEUTRAL ZONE.   INTRADAY POSITIVE WILL BE ABOVE 5300 AND NEGATIVE WILL BE BELOW 5278. IMMEDIATE INTRADAY SUPPORTS ARE AT 5278, 5267, 5250 AND 5224 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5300, 5310, 5324, 5331, 5350, 5364 AND 5384 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5250-5350. GLOBAL INDICATORS ARE INDICATING A GAP UP OPENING 

VIX AT 20.31 (-1.92)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
BUY NIFTY FUTURE ABOVE 5310 FOR TARGET 5330/5350; STOPLOSS BELOW 5289.
SELL NIFTY FUTURE BELOW 5278 FOR TARGET 5267/5250; STOPLOSS ABOVE 5290.

FOR RISKY TRADE:  WATCH INFY 2400 AND 2450CE; RIL 740CE 

BEST BUY: WILL BE LONG IN NIFTY FUTURE IF NIFTY SPOT CROSS 5331-35 LEVEL AND STAY ABOVE IT FOR 15-20 MINUTES.

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.