AUTOMATED TRADING

AUTOMATED TRADING

31 July 2011

NIFTY VIEWS FOR NEXT WEEK

Nifty has given strong sell signal on chart. All Daily and Weekly ROC oscillators are in the negative territory. Bearish Engulphing candlestick pattern in Daily and Weekly charts. All indicators are showing some weakness. Nifty is forming lower top bottom sience 5 november from 6339 level. 8 days EMA has crossed  34 days EMA on friday. India vix index is growing up on weekly charts. nifty weekly charts macd, stochasticks, rsi, adx and william R all oscillators are  indicating more fall in coming days.

U.S. debt ceiling drama deadline is on 02-08-2011.  Most probably the bailout will be approved by both Houses before the deadline. If fails to approve….. then ….. expect a severe crash in U.S. markets and will be followed by other world  markets.

I expect a gap down opening on monday. watch carefully 5400 level. If break with vollume we will see breaking the previous low of 5176 or 5198 level. Being alert in market is required now.
If market fails in giving closing above 5536 level understand weakness in market.
Short nifty at current level and keep strict stoploss at 5536.  
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