AUTOMATED TRADING

AUTOMATED TRADING

19 November 2012

NIFTY X- RAY REPORT FOR 20 NOV

WE HAVE SEEN NIFTY TOUCHED THE LOWER TREND LINE TODAY WHICH IS AROUND 5550. BELOW THIS TREND LINE AS YOU ARE SEEING THAT THERE IS A GAP ON CHART. ANY CLOSE BELOW 5525  NIFTY MAY TEST LOWER LINE OF GAP. BUT WHEN YOU CONSIDER THE WHOLE CHART YOU WILL FIND THAT THERE IS A ANOTHER BIG LONG TERM TREND LINE WHICH COMES AROUND 5200.
WILL NIFTY FALL TO 5200 OR NIFTY WILL GO TOWARDS 6000. IT WILL CONFIRM THE BLUE TREND LINE IN BELOW CHART. PRICE WISE WE NEED CONFIRMATION, IF NIFTY GIVE A CLOSE ABOVE 5630 THEN IT WOULD BE FIRST CONFIRMATION. AS WE ARE SEEING THAT  SOME POSITIVE MOVE IN U.S MARKET MAY HELP NIFTY TO OPEN SOME GAP UP AROUND 5630 AREA AND NIFTY BOUNCE MAY START FROM HERE.
TECHNICAL REMAIN AS SAME AS YESTERDAY. NIFTY IS TRENDING DOWN SINCE 6 DAYS.
FIIS PARTICIPATION WAS CALM IN MARKET TODAY. NOT TO MUCH ACTION SEEN IN FNO AND CASH SEGMENT. HIGHEST OPEN INTEREST POSITION IN 5500 PUT ARE READY TO GIVE SUPPORT NIFTY. DAY BEFORE YESTERDAY FII BOUGHT OPTIONS WORTH RS 1488 CORES. WERE THE OPTION BOUGHT ON CALL SIDE WILL BE CONFIRM IF NIFTY SUSTAIN ABOVE 5630.
NIFTY 5950 COMING SOON.
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