AUTOMATED TRADING

AUTOMATED TRADING

23 August 2012

NIFTY UPDATE.

 Nothing has been change in technical indicators. Market is in strong bullish zone and I think market will not turn its face without reaching 5600 or 5650. Nifty immediate resistance at 5475 - 5512 - 5548 -5585- 5622- 5660. Nifty immediate support at 5383. All these levels are nifty spot price. watch this level carefully. nifty will face resistance. Any close above 5475 + weekly close, we may see a another blasting rally up to 5548-5585-5622-5660 in next week.
5400 put has added more than 25 lakh shares in open interest indicating that bulls are making base at 5400 level for august series.
according to Elliot wave theory "B" wave is running and this wave should finish around 5600 and 5650, till then I expect that nifty will not turn its face.
Enjoy the rally till music on.
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