"NIFTY LEVELS FOR WEDNESDAY (23.05.2012)"

LAST TUESDAY’S (22.05.2012) CLOSE WAS AT 4860.50 (+14.60 POINTS). THE DAY HIGH WAS 4956.35 AND LOW WAS 4849.90. WEEKLY HIGH IS AT 4956.35 AND THE WEEKLY LOW IS AT 4788.95

5SMA=4877                      9SMA=4904                    14SMA=4964                    20SMA=5039                    50SMA=5186                  100SMA=5172                  200SMA=5083

5-DAY RSI AT 28.17, 9-DAY RSI AT 28.12 AND 14-DAY RSI AT 31.01 INDICATES NIFTY IS IN BEARISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 4877 AND NEGATIVE WILL BE BELOW 4850. IMMEDIATE INTRADAY SUPPORTS ARE AT 4850, 4835, 4810, 4800 AND 4780 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 4882, 4910, 4933, 4950 AND 4970 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 4780-4950.

VIX AT 24.39 (+0.47) IS INDICATING MORE THAN AVERAGE VOLATILITY IN THE MARKET.

BUY NIFTY FUTURE ABOVE 4882 FOR TARGET 4910/4930; STOPLOSS BELOW 4870. REMEMBER THE MARKET TREND IS STILL DOWN

SELL NIFTY FUTURE BELOW 4860 FOR TARGET 4840/4810; STOPLOSS ABOVE 4870.

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;) 

BEST BUY: BUY NIFTY ABOVE 4880 WITH STRICT STOPLOSS OF 4870

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.