"NIFTY LEVELS FOR FRIDAY (11.05.2012)"

LAST THURSDAY’S (10.05.2012) CLOSE WAS AT 4965.70 (-9.10 POINTS). THE DAY HIGH WAS 5039.30 AND LOW WAS 4950.30. WEEKLY HIGH IS AT 5177.20 AND THE WEEKLY LOW IS AT 4950.30

5SMA=5028                        9SMA=5114                      14SMA=5145                      20SMA=5184                      50SMA=5252                    100SMA=5158                    200SMA=5106

5-DAY RSI AT 15.27, 9-DAY RSI AT 23.79 AND 14-DAY RSI AT 30.82 INDICATES NIFTY IS NEAR OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4974 AND NEGATIVE WILL BE BELOW 4960. IMMEDIATE INTRADAY SUPPORTS ARE AT 4950, 4931, 4900 AND 4880 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4980, 4988, 5000, 5012, 5033, 5050 AND 5070 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4930-5070.

VIX AT 22.72 (-0.32) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4990 FOR TARGET 5020/5035; STOPLOSS BELOW 4980. REMEMBER THE MARKET TREND IS DOWN

SELL NIFTY FUTURE BELOW 4970 FOR TARGET 4950/4930; STOPLOSS ABOVE 4990.

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 HOLDING @0.20); 

BEST BUY: BUY NIFTY FUTURE AROUND 4910/4930 WITH STOPLOSS OF 4900 (RISK TAKER MAY PLACE STOPLOSS OF 4880) FOR TARGET OF 5100 WITHIN THIS EXPIRY. IN ANY CASE, NO LONGS WILL BE HELD IF NIFTY BREAKS 4880 WITH VOLUME.

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.