"NIFTY LEVELS FOR THURSDAY (24.05.2012)"

LAST WEDNESDAY’S (23.05.2012) CLOSE WAS AT 4835.65 (-24.85 POINTS). THE DAY HIGH WAS 4853.75 AND LOW WAS 4803.95. WEEKLY HIGH IS AT 4956.35 AND THE WEEKLY LOW IS AT 4788.95

5SMA=4873                      9SMA=4889                    14SMA=4939                    20SMA=5020                    50SMA=5175                  100SMA=5176                  200SMA=5076

5-DAY RSI AT 23.94, 9-DAY RSI AT 25.91 AND 14-DAY RSI AT 29.55 INDICATES NIFTY IS IN OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4877 AND NEGATIVE WILL BE BELOW 4850. IMMEDIATE INTRADAY SUPPORTS ARE AT 4835, 4810, 4800 AND 4780 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4850, 4882 AND 4910 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4780-4910.

VIX AT 27.13 (+2.74) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4800 FOR TARGET 4830/4880; STOPLOSS BELOW 4780. REMEMBER THE MARKET TREND IS STILL DOWN

SELL NIFTY FUTURE BELOW 4830 FOR TARGET 4810/4780; STOPLOSS ABOVE 4850.

FOR RISKY TRADE: OUR 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: BUY NIFTY AROUND 4780 WITH STRICT STOPLOSS OF 4760 FOR TARGET OF 4900 TILL EXPIRY.

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.