"NIFTY LEVELS FOR TUESDAY (08.05.2012)"

LAST MONDAY’S (07.05.2012) CLOSE WAS AT 5114.15 (+27.30 POINTS). THE DAY HIGH WAS 5124.75 AND LOW WAS 4988.00. WEEKLY HIGH IS AT 5279.60 AND THE WEEKLY LOW IS AT 4988.00

5SMA=5175                     9SMA=5185                   14SMA=5215                   20SMA=5224                   50SMA=5275                 100SMA=5149                 200SMA=5115

5-DAY RSI AT 30.25, 9-DAY RSI AT 35.37 AND 14-DAY RSI AT 39.50 INDICATES NIFTY IS NEAR OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5125 (YESTERDAY'S HIGH) AND NEGATIVE WILL BE BELOW 5100. IMMEDIATE INTRADAY SUPPORTS ARE AT 5110, 5090, 5080, 5068, 5050, 5032 AND 5011 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5133, 5150, 5177 AND 5189 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5010-5180.

VIX AT 20.22 (-0.90) IS INDICATING AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5133 FOR TARGET 5150/5170; STOPLOSS BELOW 5110. REMEMBER THE MARKET TREND IS DOWN

SELL NIFTY FUTURE BELOW 5100 FOR TARGET 5080/5050; STOPLOSS ABOVE 5110.

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: GO LONG IN NIFTY FUTURE AROUND 5130 WITH STOPLOSS OF 5110 FOR A TARGET OF 5150/5170 (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.