"NIFTY LEVELS FOR MONDAY (21.05.2012)"

LAST FRIDAY’S (18.05.2012) CLOSE WAS AT 4891.45 (+21.25 POINTS). THE DAY HIGH WAS 4908.50 AND LOW WAS 4788.95. WEEKLY HIGH IS AT 4957.20 AND THE WEEKLY LOW IS AT 4788.95

5SMA=4894                      9SMA=4927                    14SMA=5015                    20SMA=5072                    50SMA=5201                  100SMA=5170                  200SMA=5086

5-DAY RSI AT 32.08, 9-DAY RSI AT 29.42 AND 14-DAY RSI AT 32.01 INDICATES NIFTY IS IN BEAR ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4910 AND NEGATIVE WILL BE BELOW 4880. IMMEDIATE INTRADAY SUPPORTS ARE AT 4882, 4870, 4850, 4835, 4810, 4800 AND 4780 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4898, 4910, 4933, 4950 AND 4970 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4810-4950.

VIX AT 23.55 (-0.04) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4900 FOR TARGET 4930/4950; STOPLOSS BELOW 4880. REMEMBER THE MARKET TREND IS STILL DOWN

SELL NIFTY FUTURE BELOW 4880 FOR TARGET 4850/4830; STOPLOSS ABOVE 4870.

FOR RISKY TRADE: FRIDAY'S CALL WAS ACTIVATED: GO LONG FOR SUZLON 25CE AROUND 0.15-0.20 WITH A RISK OF RS. 1600/- ONLY AND HOLD FOR A TARGET OF 0.70-0.75 (WE ARE STILL HOLDING @0.20;) 

BEST BUY: BUY NIFTY ABOVE 4900 WITH STRICT STOPLOSS OF 4882

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.