AUTOMATED TRADING

AUTOMATED TRADING

12 June 2012

NIFTY X -RAY REPORT FOR 13 JUNE

 The Indian markets closed with good gains today and even lower than expected IIP numbers could not dampen investors' sentiments. Banking, realty, capital goods and auto were the biggest gainers in today's session and consumer durables, power and metal, too, made significant gains. Healthcare was the only sector that closed negative. The Sensex closed at 16863, up 195 points from its previous close, and the Nifty closed at 5116, up 62 points. 
Nifty future first time closed with 10 points premium in two months. nifty future up by 74 points while nifty spot up by 61.80 points and nifty future open interest increased by 4.28%, indicating that only long has built up  by smart money today. Nifty 5100 put open interest added 760850 shares in open interest, and 5100 call decreased -108200 shares from open interest. Nifty  even 5200 put added huge open interest with 608000 shares, and 5200 call added 351350 shares in open interest. Indicating that market may face resistance around 5155 for next session. As i told you yesterday that if IIP data come bad market will move up, but you people didn't consider my words and all of you would have been shorted nifty. But our subscriber know my real analysis, and i have recommended to buy nifty at 5065.
Now what next?
There was a strong  falling trendline resistance on daily and weekly charts which has crossed nifty and given closing above this level. If any more single bullish candle formed above this trend line blasting rally we may see in coming days.  Watch this level closely, any two consecutive close above this level nifty may kiss 5260 level in one or two move.
As per EOD charts nifty has given closing above 50 SMA after 48 session and It has given closing above 200 SMA also after 27 session, which is strong bullish sign despite of Bad IIP data.
After putting all this analysis I came to this conclusion nifty is heading towards 5200-5260 level comfortably after minor zig zag movement. Those who have not buy nifty at lower level don't jump here to buy untill unless nifty give closing above 5140 level.
NIFTY SUPPORT AT 5052
PIVOT POINT AT 5090
RESISTANCE AT 5168



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