AUTOMATED TRADING

AUTOMATED TRADING

27 May 2012

NIFTY UPDATE FOR 28 MAY

 Nifty Broke the trends of the past few weeks ultimately and it closed at 4920, the markets closed positive during the week with banking and capital goods leading the rally. The Sensex was up 0.3% and Nifty gained 0.5% over the week. The CNX Midcap index was up 0.6%, BSE small cap  gained 1% while the Bank Nifty closed with 1.4% gain. Nifty 4900 call added  124700 new shares in open interest and 4900 put added 59250 new shares in open interest indicates more consolidation around 4900. As i have all ready indicated that any close above 4930-4960 will create a blasting rally in stock market. As per option open interest data once more flat and rangebound trading session is expected and if nifty does not close below 4880 level on monday we will see a sharp jump on tuesday.I expect  upto 5200 level till friday next week if nifty close above 4960 level. As per EOD charts Nifty has given bullish divergence signal on chart. any close above 4960 nifty will go straight upto 5130-5230. level. Nifty made low of 4531 and high 5628 total 1097 points rally it gave. it corrected upto 4788 almost 75% correction. Now this B wave will take to 5900 in next two three months. 
Warning any close below 4860 this time may create a panic selling upto 4730. but its chances are very low. Any two consecutive close above 4980  oversold RSI indicator will take nifty up to 5259 within a week.
  

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