"NIFTY LEVELS FOR WEDNESDAY (09.05.2012)"

LAST TUESDAY’S (08.05.2012) CLOSE WAS AT 4999.95 (-114.20 POINTS). THE DAY HIGH WAS 5119.95 AND LOW WAS 4983.60. WEEKLY HIGH IS AT 5279.60 AND THE WEEKLY LOW IS AT 4983.60

5SMA=5126                      9SMA=5163                    14SMA=5194                    20SMA=5212                    50SMA=5267                  100SMA=5152                  200SMA=5112

5-DAY RSI AT 17.79, 9-DAY RSI AT 25.99 AND 14-DAY RSI AT 32.59 INDICATES NIFTY IS NEAR OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5010 AND NEGATIVE WILL BE BELOW 4980. IMMEDIATE INTRADAY SUPPORTS ARE AT 4980, 4950, 4931 AND 4900 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5012, 5033, 5050 AND 5070 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4950-5080.

VIX AT 22.16 (+1.94) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 5003 FOR TARGET 5033/5051; STOPLOSS BELOW 4988/4980. REMEMBER THE MARKET TREND IS DOWN

SELL NIFTY FUTURE BELOW 4988 FOR TARGET 4950/4930; STOPLOSS ABOVE 5010.

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: WAIT FOR OUR NEXT CALL

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.