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"NIFTY LEVEL FOR MONDAY (02.04.2012)

LAST FRIDAY’S (30.03.2012) CLOSE WAS AT 5295.55 (+116.70 POINTS). THE DAY HIGH WAS 5307.10 AND LOW WAS 5203.65. WEEKLY HIGH IS AT 5307.10 (LAST FRIDAY) AND THE WEEKLY LOW IS AT 5135.95 (LAST THURSDAY).
    5SMA=5219
                     9SMA=5249
                   14SMA=5292
                   20SMA=5293
                   50SMA=5313
                 100SMA=5071
                 200SMA=5149
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5-DAY RSI AT 57.76, 9-DAY RSI AT 51.61 AND 14-DAY RSI AT 50.51 INDICATES NIFTY IS NEAR BULLSH ZONE. INTRADAY POSITIVE WILL BE ABOVE 5302 AND NEGATIVE WILL BE BELOW 5278. IMMEDIATE INTRADAY SUPPORTS ARE AT 5278, 5267, 5250 AND 5227 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5302, 5310, 5324, 5331, 5340, 5357 AND 5390 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5230-5390.
VIX AT 22.38 (-1.95)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
BUY NIFTY FUTURE ABOVE 5300 FOR TARGET 5331/5355; STOPLOSS BELOW 5290.
SELL NIFTY FUTURE BELOW 5277 FOR TARGET 5250/5230; STOPLOSS ABOVE 5290.
FOR RISKY TRADE:  AS INDICATED ON FRIDAY, RIL 740CE BETWEEN 20-22 FOR TARGET OF 35-50 WITH STOPLOSS OF 16 AND BUY 5900CE BETWEEN 2-2.25 FOR HOLDING TILL EXPIRY, ACTIVATED
BEST BUY: AS INDICATED ON FRIDAY, WATCH FOR ITC (230CE), JPASSOCIATES (80CE). THOSE WHO WISHES TO TAKE A SMALL AMOUNT RISK, CAN BUY 5900/6000CE @2.10/1.30 (ALL CALLS ACTIVATED)
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.

"Now its time to invest in good quality stocks like ICICIBANK, SBIN, RELIANCE etc. " - Jay
Due to volatility, one may abstain from day-traiding for few days.

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