AUTOMATED TRADING

AUTOMATED TRADING

17 December 2012

NIFTY UPDATE FOR 17-12-12

Volatile week is ahead. Nifty took support at my projected level 5837 and reversed from there but are you really thinking that market will come in impulsive mode. I don't think so. I have a different count on chart which i have given below. It seems that Nifty was moving in 3rd wave extension so this new 4th wave will be in zig zag pattern. For consider nifty should trade above 5920-30 spot level for up move otherwise volatile move is expected and there will be no surprise if nifty touch 5725. If my wave count is correct then nifty must reverse from this zone and will give full and final move up to 6304 or 6545.
watch 5917-20 level. sustaining above this level will be strong positive.
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