"NIFTY LEVELS FOR THURSDAY (10.05.2012)"

LAST WEDNESDAY’S (09.05.2012) CLOSE WAS AT 4974.80 (-25.15 POINTS). THE DAY HIGH WAS 5016.25 AND LOW WAS 4956.45. WEEKLY HIGH IS AT 5217.30 AND THE WEEKLY LOW IS AT 4956.45

5SMA=5073                      9SMA=5139                    14SMA=5168                    20SMA=5199                    50SMA=5260                  100SMA=5155                  200SMA=5109

5-DAY RSI AT 15.97, 9-DAY RSI AT 24.39 AND 14-DAY RSI AT 31.29 INDICATES NIFTY IS NEAR OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4980 AND NEGATIVE WILL BE BELOW 4970. 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 4950-5080.

VIX AT 23.04 (+0.88) 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.