AUTOMATED TRADING

AUTOMATED TRADING

29 May 2012

NIFTY UPDATE FOR 30 MAY 2012

 There are not much changes in todays report.The markets closed with marginal gains today with IT, tech, realty and metal being the lead gainers. Power, auto and oil & gas, too, gained marginally while FMCG, consumer durables and heathcare lost substantially. The Sensex closed at 16439, up 22 points from its previous close, and the Nifty closed at 4990, up 4 points.
big players are waiting for clear confirmation.  Nifty 5000 put open interest added 535050 shares and 5000 calls decreased 382500 shares from open interest.    Market made high of 5020 level but FIIs pull the index at lower so that they could exit from short at lower level. Nifty future negative (shorts) open interest decreased by 8.53% indicates huge shorts have been covered today also. Nifty 20 day sma price is at 4981 any close below this level can worsen the sentiment. As per option open interest data indicates that nifty price will be trade above 5000 tomorrow. I highly expect expiry would be in 5070-5140 range. As per nifty EOD charts prices must be form a bullish candle stick pattern tomorrow above 20DMA  for next bull run. Any Two consecutive close above 200 dma will create a blasting rally in market. 
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