"NIFTY LEVELS FOR FRIDAY (18.05.2012)"

LAST THURSDAY’S (17.05.2012) CLOSE WAS AT 4870.20 (+11.95 POINTS). THE DAY HIGH WAS 4922.25 AND LOW WAS 4850.20. WEEKLY HIGH IS AT 4976.25 AND THE WEEKLY LOW IS AT 4837.05

5SMA=4902                       9SMA=4951                     14SMA=5038                     20SMA=5091                     50SMA=5208                   100SMA=5169                   200SMA=5089

5-DAY RSI AT 22.85, 9-DAY RSI AT 24.71 AND 14-DAY RSI AT 29.31 INDICATES NIFTY IS IN OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4870 AND NEGATIVE WILL BE BELOW 4850. IMMEDIATE INTRADAY SUPPORTS ARE AT 4850, 4835, 4810, 4800 AND 4780 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4860, 4880, 4898, 4910 AND 5930 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4810-4930.

VIX AT 23.59 (-0.12) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4870 FOR TARGET 4890/4910; STOPLOSS BELOW 4850. REMEMBER THE MARKET TREND IS STILL DOWN

SELL NIFTY FUTURE BELOW 4850 FOR TARGET 4830/4810; 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: WAIT FOR OUR NEXT CALL

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.