"NIFTY LEVELS FOR WEDNESDAY (30.05.2012)"

LAST TUESDAY’S (29.05.2012) CLOSE WAS AT 4990.10 (+4.45 POINTS). THE DAY HIGH WAS 5020.15 AND LOW WAS 4982.15. WEEKLY HIGH IS AT 5020.15 AND THE WEEKLY LOW IS AT 4803.95

5SMA=4931                      9SMA=4909                    14SMA=4913                    20SMA=4969                    50SMA=5140                  100SMA=5186                  200SMA=5070

5-DAY RSI AT 69.50, 9-DAY RSI AT 54.19 AND 14-DAY RSI AT 47.45 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 24.03 (+0.35) 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: DUE TO EXPIRY WEEK, NO CALL 

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.