AUTOMATED TRADING

AUTOMATED TRADING

24 January 2012

I have given three charts  . on daily charts there is a strong trend line resistance near 5168- 5200. on weekly chart nifty is showing strong resistance near 5200 level. two closing above 5200 nifty will jump to 5400 level.
But the question is will nifty cross the trend line?
ok now consider the charts. on daily and weekly charts RSI, SLOW STOCHASTIC, are showing over bought situations. so I strongly think that once nifty will comeback atleast 4900 level.
FROM DOWNSIDE  It will face strong support at 5000 level. any close below 5000 nifty may slip to 4900-4850. 
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