"NIFTY LEVELS FOR FRIDAY (04.05.2012)"

LAST THURSDAY’S (03.05.2012) CLOSE WAS AT 5188.40 (-50.75 POINTS). THE DAY HIGH WAS 5217.30 AND LOW WAS 5180.65. WEEKLY HIGH IS AT 5279.60 AND THE WEEKLY LOW IS AT 5154.30

5SMA=5215                      9SMA=5210                    14SMA=5238                    20SMA=5242                    50SMA=5291                  100SMA=5143                  200SMA=5120

5-DAY RSI AT 36.07, 9-DAY RSI AT 41.35 AND 14-DAY RSI AT 44.03 INDICATES NIFTY IS IN NEUTRAL ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5189 AND NEGATIVE WILL BE BELOW 5177. IMMEDIATE INTRADAY SUPPORTS ARE AT 5177, 5170, 5150 AND 5131 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5200, 5210, 5227, 5233, 5243, 5250 AND 5267 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5130-5270.

VIX AT 19.25 (+0.71) IS INDICATING LESS THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5190 FOR TARGET 5227/5243; STOPLOSS BELOW 5170.

SELL NIFTY FUTURE BELOW 5170 FOR TARGET 5150/5130; STOPLOSS ABOVE 5190.

FOR RISKY TRADE: 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   WATCH FOR SESAGOA (PROBABLY WE WILL BE LONG ON MONDAY ONWARDS; WILL WRITE HERE)

BEST BUY: GO LONG IN NIFTY FUTURE AROUND 5190 WITH STOPLOSS OF 5170 FOR A TARGET OF 5250/5270 (TIME FRAME - 7 TRADING DAYS)

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.