AUTOMATED TRADING

AUTOMATED TRADING

16 May 2012


TODAY LOW 4837 IS BIG SUPPORT FOR NIFTY. NIFTY MAY BOUNCE FROM HERE. ANY CLOSE BELOW 4800 WILL CREATE LIKE PANIC SITUATION. AS PER ELLIOT WAVE ANALYSIS NIFTY HAS COMPLETED ITS DOWN MOVE CORRECTION. AS PER NIFTY WEEKLY CHART ABOVE NIFTY IS AT A LONG TERM TREND LINE SUPPORT.
ANY TIME RED CAT BOUNCE. AS PER SLOW STOCHASTIC NIFTY WEEKLY CHART IS IN HIGHLY OVERSOLD ZONE.
THESE THREE REASON MAY GIVE NIFTY BOUNCE BACK.
CURRENTLY NIFTY IS AT CRITICAL JUNCTURE, BOUNCE BACK FROM HERE BULL  WILL FLY UP TO 5900 LEVEL. AND SLIPPING BELOW 4800 WILL CREATE PANIC TILL 4200 LEVEL IN NEXT THREE MONTHS.
ANY CLOSE ABOVE 4940 WILL CONFIRM THE BULLISH REVERSAL. AND CLOSE BELOW 4800 WILL CONFIRM LONG TERM TREND LINE BREAK DOWN BEARISH TREND. 
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BUY HINDALCO  AROUND 111 KEEP STOPLOSS AT 100 AND HOLD FOR THREE MONTHS
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BUY SBI AROUND 1800 AND HOLD FOR TWO THREE MONTHS. KEEP STOPLOSS AT 1700
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The Sensex closed at 16328, up 112 points from its previous close, and the Nifty shut shop at 4943, up 35 points. As per EOD charts nity is in highly oversold zone on daily and weekly charts. As per option open interest data 4800 put has higest open interest at 7355250 and 4900 put open interest at 7118150. which further giving signal that market will not fall below  4800 level. nifty strong support at 4850. After a long time we have seen decreasing open interest in 4900 call. Today  asian market is in red  so expect a red opening and pull back rally in last hour is expected. 
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15 May 2012

 Market is fully oversold zone. put call ratio is at 0.93.Today is final match between bull and bears. a trend reversal is expected today. If market slip up to 4850 level  in intraday don't miss it to grab  there nifty future or 4900 call at current market price.
sustaining above 4950 will confirm the bullish  reversal.
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