"NIFTY LEVELS FOR WEDNESDAY (16.05.2012)"

LAST TUESDAY’S (15.05.2012) CLOSE WAS AT 4942.80 (+35.00 POINTS). THE DAY HIGH WAS 4955.20 AND LOW WAS 4868.55. WEEKLY HIGH IS AT 5119.95 AND THE WEEKLY LOW IS AT 4868.55

5SMA=4944                      9SMA=5012                    14SMA=5085                    20SMA=5137                    50SMA=5226                  100SMA=5166                  200SMA=5096

5-DAY RSI AT 28.23, 9-DAY RSI AT 28.24 AND 14-DAY RSI AT 32.31 INDICATES NIFTY IS IN OVERSOLD ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4950 AND NEGATIVE WILL BE BELOW 4930. IMMEDIATE INTRADAY SUPPORTS ARE AT 4931, 4900, 4880, 4870 AND 4840 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4950, 4970, 4988, 5000, 5012, 5033, 5050 AND 5070 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4880-4990.

VIX AT 22.28 (-0.98) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4950 FOR TARGET 4970/4990; STOPLOSS BELOW 4930. REMEMBER THE MARKET TREND IS STILL DOWN

SELL NIFTY FUTURE BELOW 4930 FOR TARGET 4910/4890; STOPLOSS ABOVE 4950.

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: 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.