NIFTY LEVELS FOR THURSDAY

LAST WEDNESDAY’S (28.03.2012) CLOSE WAS AT 5194.75 (-48.40 POINTS). THE DAY HIGH WAS 5236.55 AND LOW WAS 5169.60. WEEKLY HIGH IS AT 5385.95 AND THE WEEKLY LOW IS AT 5169.60.

5SMA=5226    9SMA=5260
  14SMA=5308
  20SMA=5305
  50SMA=5302
100SMA=5072
200SMA=5151

5-DAY RSI AT 38.04, 9-DAY RSI AT 40.74 AND 14-DAY RSI AT 43.60 INDICATES NIFTY IS IN BEARISH ZONE.

INTRADAY POSITIVE WILL BE ABOVE 5200 AND NEGATIVE WILL BE BELOW 5177. IMMEDIATE INTRADAY SUPPORTS ARE AT 5170, 5150 AND 5130 LEVEL. IMMEDIATE INTRADAY RESISTANCES ARE AT 5200, 5227, 5239, 5267 AND 5290 LEVEL. EXPECTED RANGE FOR TODAY PROBABLY BETWEEN 5150-5250.VIX AT 24.87 (-0.18)  IS INDICATING AVERAGE VOLATILITY IN THE MARKET.
DUE TO EXPIRY DAY, NO RECOMMENDATION FOR TODAY.

FOR RISKY TRADE:  BUY RIL 740CE (APRIL) BETWEEN 20-22 FOR TARGET OF 35-50 WITH STOPLOSS OF 16

BEST BUY: WATCH FOR BHARATIAIRTEL 340CE. THOSE WHO WISHES TO TAKE A SMALL AMOUNT RISK, CAN BUY 5900 OR 6000CE (APRIL) @1.50/2.50

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.