"NIFTY LEVELS FOR TUESDAY (29.05.2012)"

LAST MONDAY’S (28.05.2012) CLOSE WAS AT 4985.65 (+65.25 POINTS). THE DAY HIGH WAS 4994.95 AND LOW WAS 4931.30. WEEKLY HIGH IS AT 4994.95 AND THE WEEKLY LOW IS AT 4803.95

5SMA=4905                      9SMA=4894                    14SMA=4912                    20SMA=4982                    50SMA=5146                  100SMA=5183                  200SMA=5071

5-DAY RSI AT 68.67, 9-DAY RSI AT 53.55 AND 14-DAY RSI AT 47.00 INDICATES NIFTY IS NEAR BULLISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4995 AND NEGATIVE WILL BE BELOW 4970. IMMEDIATE INTRADAY SUPPORTS ARE AT 4970, 4950, 4931, 4910 AND 4882 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4995, 5022, 5034, 5041, 5050 AND 5070 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4910-5070.

VIX AT 23.68 (-1.46) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4995 FOR TARGET 5022/5050; STOPLOSS BELOW 4970. 

SELL NIFTY FUTURE BELOW 4970 FOR TARGET 4950/4930; STOPLOSS ABOVE 4995.

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;). THOSE STILL HOLDING MAY EXIT @0.05/0.10 WITH LOSS OF RS. 800/- (SUZLON RESULT WAS NOT GOOD THIS TIME ALSO) 

BEST BUY: WATCH FOR BHEL, L&T, SBI AND BHARATI.

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.