"NIFTY LEVELS FOR TUESDAY (22.05.2012)"

LAST MONDAY’S (21.05.2012) CLOSE WAS AT 4906.05 (+14.60 POINTS). THE DAY HIGH WAS 4937.50 AND LOW WAS 4888.50. WEEKLY HIGH IS AT 4957.20 AND THE WEEKLY LOW IS AT 4788.95

5SMA=4894                      9SMA=4916                    14SMA=4991                    20SMA=5057                    50SMA=5195                  100SMA=5172                  200SMA=5083

5-DAY RSI AT 38.40, 9-DAY RSI AT 32.67 AND 14-DAY RSI AT 33.88 INDICATES NIFTY IS IN BEARISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4910 AND NEGATIVE WILL BE BELOW 4900. IMMEDIATE INTRADAY SUPPORTS ARE AT 4900, 4882, 4870, 4850, 4835, 4810, 4800 AND 4780 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4910, 4933, 4950 AND 4970 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4850-4970.

VIX AT 23.92 (+0.37) 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 STILL DOWN

SELL NIFTY FUTURE BELOW 4900 FOR TARGET 4882/4870; 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 STILL HOLDING @0.20;) 

BEST BUY: BUY NIFTY ABOVE 4900 WITH STRICT STOPLOSS OF 4882

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.