"NIFTY LEVELS FOR THURSDAY (03.05.2012)"

LAST WEDNESDAY’S (02.05.2012) CLOSE WAS AT 5239.15 (-9.00 POINTS). THE DAY HIGH WAS 5279.60 AND LOW WAS 5226.45. WEEKLY HIGH IS AT 5279.60 AND THE WEEKLY LOW IS AT 5154.30

5SMA=5215                      9SMA=5221                    14SMA=5239                    20SMA=5251                    50SMA=5299                  100SMA=5138                  200SMA=5122

5-DAY RSI AT 54.76, 9-DAY RSI AT 49.70 AND 14-DAY RSI AT 48.67 INDICATES NIFTY IS IN NEUTRAL ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5243 AND NEGATIVE WILL BE BELOW 5230. IMMEDIATE INTRADAY SUPPORTS ARE AT 5227-30, 5210, 5200, 5189, 5170 AND 5150 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5243, 5250, 5267, 5278 AND 5300 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5170-5300.

VIX AT 18.54 (+0.72) IS INDICATING LESS THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5245 FOR TARGET 5267/5278; STOPLOSS BELOW 5230.

SELL NIFTY FUTURE BELOW 5230 FOR TARGET 5210/5190; STOPLOSS ABOVE 5250.

FOR RISKY TRADE: WATCH SUZLON 25CE AND RIL 740CE. 

BEST BUY: FRIDAY'S CALL WAS: GO LONG IN NIFTY FUTURE AROUND 5150 WITH STOPLOSS OF 5130 FOR TARGET OF 5200/5260 (TIME PERIOD - ONE WEEK). FIRST TARGET ACHIEVED ON SATURDAY (WITHIN ONE DAY). SECOND TARGET ACHIEVED YESTERDAY (WEDNESDAY).

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.