AUTOMATED TRADING

AUTOMATED TRADING

2 May 2012

As it was expected markets lost the gap-up openings in the afternoon to close with moderate declines.I told you to don't hold any long position overnight untill unless it give close above 5325.  Auto, power and capital goods counters remained under pressure while media stocks gained significantly. Consumer durables, tech and IT, too, closed with substantial gain.  Nifty shut shop at 5239, down 9 points. The CNX Midcap index was down 0.4% while the BSE SMALL CAP index gained 0.2% in today's trade. The market breadth was negative with advances at 645 against declines of 775 on the NSE.
Today 5300 call added 802,100 contracts in open interest. 5200 put added 923,700 contracts in open interest. Nifty future decreased its open interest by 0.98%. Nifty future premium decreased from 19.70 to 7.80. As per option open interest data nifty is indicating that it will face support around 5200-5180 and resistance around 5280 level. Bull trade only  can be consider closing after 5310 level.
As per nifty chart RSI  faced resistance at 50 level. Slow stochastic indicator moved up very fast indicating very less strenth towards upside. Watch nifty carefuly on wednesday, If nifty close below 5180 this time it may touch 5050-4950 level in coming days till next week.
Posted by at

Disclamer:-

Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Futures and Options markets. Don't trade with money that you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell Futures or Options.

The contents of this site are for general information purposes, only. The strategies/plan discussed above in this thread/site is made by me based on data which is operated and maintained by third parties. However it is tested and proved every attempt has been made to assure accuracy, but it is by me only. We assume no responsibility for errors or omissions. Examples on this site and in the manual are provided for illustrative purposes and should not be construed as investment advice or strategy. The future data manual is for informational purposes only. These predictions/tips are technical , based on charts conditions ONLY. This is only a guideline, the decision has to be taken after logical thinking by you. Technical analyst and astrologist will not be liable for any personal or financial losses or profits.

The information and views in this website & all the services we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.

By your act of reading this independent and individual market research, you fully and explicitly agree that Rajesh Singh or My website (www.niftyeyes.blogspot.in/www.niftyeyes.in) will not be held liable or responsible for any decisions you make regarding any information discussed herein. Take a proper advice from a certified adviser before invest in future and option market.