"NIFTY LEVELS FOR WEDNESDAY (02.05.2012)"

LAST MONDAY’S (30.04.2012) CLOSE WAS AT 5248.15 (+39.15 POINTS). THE DAY HIGH WAS 5262.15 AND LOW WAS 5201.45. WEEKLY HIGH IS AT 5262.15 AND THE WEEKLY LOW IS AT 5154.30

5SMA=5208                        9SMA=5232                      14SMA=5242                      20SMA=5236                      50SMA=5306                    100SMA=5135                    200SMA=5123

5-DAY RSI AT 43.50, 9-DAY RSI AT 44.24 AND 14-DAY RSI AT 45.65 INDICATES NIFTY IS IN BEARISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5250 AND NEGATIVE WILL BE BELOW 5230. IMMEDIATE INTRADAY SUPPORTS ARE AT 5230, 5200, 5189, 5170 AND 5150 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5250, 5267, 5278 AND 5300 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5170-5300.

VIX AT 17.61 (-0.28) IS INDICATING LESS THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5250 FOR TARGET 5278/5290; STOPLOSS BELOW 5230.

SELL NIFTY FUTURE BELOW 5230 FOR TARGET 5210/5190; STOPLOSS ABOVE 5250.

FOR RISKY TRADE: WATCH SUZLON 25CE. 

BEST BUY: FRIDAY'S CALL WAS: GO LONG IN NIFTY FUTURE AROUND 5150 WITH STOPLOSS OF 5130 FOR TARGET OF 5200/5260 (TIME PERIOD - ONE WEEK). FIRST TARGET ACHIEVED ON SATURDAY (WITHIN ONE DAY). SECOND TARGET MAY BE ACHIEVED TODAY (WEDNESDAY).

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.