"NIFTY LEVELS FOR TUESDAY (15.05.2012)"

LAST MONDAY’S (14.05.2012) CLOSE WAS AT 4907.80 (-21.10 POINTS). THE DAY HIGH WAS 4957.20 AND LOW WAS 4874.50. WEEKLY HIGH IS AT 5119.95 AND THE WEEKLY LOW IS AT 4874.50

5SMA=4955                       9SMA=5045                     14SMA=5103                     20SMA=5154                     50SMA=5234                   100SMA=5164                   200SMA=5099

5-DAY RSI AT 11.05, 9-DAY RSI AT 20.11 AND 14-DAY RSI AT 27.82 INDICATES NIFTY IS IN OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4910 AND NEGATIVE WILL BE BELOW 4900. IMMEDIATE INTRADAY SUPPORTS ARE AT 4900, 4880, 4870 AND 4840 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4931, 4950, 4970, 4988, 5000, 5012, 5033, 5050 AND 5070 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4840-4970.

VIX AT 23.26 (+0.78) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4910 FOR TARGET 4930/4950; STOPLOSS BELOW 4900. REMEMBER THE MARKET TREND IS DOWN

SELL NIFTY FUTURE BELOW 4900 FOR TARGET 4880/4850; STOPLOSS ABOVE 4910.

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: NO LONGS WILL BE HELD IF NIFTY BREAKS 4880 WITH VOLUME. BELOW 4880, WE WILL BUY 4700PUTS AND WILL EXIT FROM SUZLON 25CE PROBABLY WITH LOSS OF RS. 800/-.

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.