"NIFTY LEVELS FOR MONDAY (07.05.2012)"

LAST FRIDAY’S (04.05.2012) CLOSE WAS AT 5086.85 (-101.55 POINTS). THE DAY HIGH WAS 5177.20 AND LOW WAS 5070.60. WEEKLY HIGH IS AT 5279.60 AND THE WEEKLY LOW IS AT 5070.60

5SMA=5194                      9SMA=5197                    14SMA=5228                    20SMA=5230                    50SMA=5283                  100SMA=5146                  200SMA=5117

5-DAY RSI AT 19.45, 9-DAY RSI AT 30.00 AND 14-DAY RSI AT 36.52 INDICATES NIFTY IS NEAR OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5089/5100 AND NEGATIVE WILL BE BELOW 5072. IMMEDIATE INTRADAY SUPPORTS ARE AT 5068, 5050, 5032 AND 5011 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5100, 5110, 5133, 5150 AND 5177 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5030-5130.

VIX AT 21.12 (+1.87) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5110 FOR TARGET 5130/5150; STOPLOSS BELOW 5080. REMEMBER THE MARKET TREND IS DOWN

SELL NIFTY FUTURE BELOW 5080 FOR TARGET 5050/5030; STOPLOSS ABOVE 5100.

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 (THOSE BOUGHT @0.20 ON FRIDAY AND DON'T WISH TO TAKE RISK OF RS. 1600, MAY PLACE STOPLOSS OF 0.25 NOW; CMP=0.35); (WILL WAIT FOR SESAGOA CALL)

BEST BUY: GO SHORT IN NIFTY FUTURE AROUND 5090 WITH STOPLOSS OF 5110 FOR A TARGET OF 5050/5030 (TIME FRAME - TILL FRIDAY)

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.