AUTOMATED TRADING

AUTOMATED TRADING

17 January 2013

NIFTY UPDATE FOR 17 JAN

Nifty braked its all time high on Tuesday but didn't sustained the high level and slipped to 5995 level. For the bull trend nifty should maintain the price above 5990-5950. If nifty break this level will be first sign of reversal of 2013.  All sectoral indices closed in negative trend. The sensex closed at 19817 and Nifty closed at 6001. Nifty 6000 put decreased 6 lac contracts from open interest and 6000 call added 568000 fresh contracts in open interest. Indicating volatile move for the today session. Yesterday low will act as strong support. 5900 put has highest open interest will provide support in the market. I still think that top is due in the market. Above 6045 bull will come again in power.
Strong support - 5965
Strong resistance - 6040
Either side breaking this range will confirm the next direction.

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