AUTOMATED TRADING

AUTOMATED TRADING

23 April 2012

NIFTY X-RAY REPORT FOR 23 APRIL.
NIFTY HAS MADE ONCE AGAIN LOWER TOP FORMATION ON CHARTS. I TOLD YOU UNTILL UNLESS IT CLOSE ABOVE 5340 BULL RALLY CANNOT BE CONFIRMED. I RECOMENDED TO SHORT NIFTY AROUND THIS LEVEL. ON FRIDAY 5300 PE  DECREASED 1084350 CONTRACTS AND 5200PE DECREASED 476750 CONTRACTS IN OPEN INTEREST . NIFTY FUTURE PREMIUM DECREASED FROM 23 POINTS TO 11 POINTS. MEANS HUGE PROFIT BOOKING SEEN IN LONG SIDE. THIS WHOLE MONTHS VOLUME WAS VERY LOW SO I DONT EXPECT ANY MAJOR FALL OR RISE IN NEXT 4 DAYS TRADING SESSION. NIFTY WILL FACE STRONG SUPPORT AROUND 5180-5135 AND IT WILL FACE STRONG RESISTANCE AROUND 5335-5340. ONLY INTRADAY TRADING IS GOOD FOR NEXT FOUR DAYS.
Recommendation:
Buy at / above: 5298  Targets: 5312 - 5325 - 5345 - 5362 Stoploss : 5274
Sell at / below: 5274  Targets: 5255 - 5240 - 5220 - 5205 Stoploss : 5294
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