"NIFTY LEVELS FOR THURSDAY (17.05.2012)"

LAST WEDNESDAY’S (16.05.2012) CLOSE WAS AT 4858.25 (-84.55 POINTS). THE DAY HIGH WAS 4882.25 AND LOW WAS 4837.05. WEEKLY HIGH IS AT 5039.30 AND THE WEEKLY LOW IS AT 4837.05

5SMA=4921                      9SMA=4975                    14SMA=5061                    20SMA=5115                    50SMA=5216                  100SMA=5168                  200SMA=5092

5-DAY RSI AT 17.83, 9-DAY RSI AT 22.12 AND 14-DAY RSI AT 27.81 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 23.71 (+1.43) 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.