AUTOMATED TRADING

AUTOMATED TRADING

7 February 2013

NIFTY X-RAY REPORT FOR 08 FEB

Nifty is near its long term trend line support support from 4770 but has give closing below 50 DMA. And this trend line will decide the next move of nifty, Will this time also nifty take support and reverse or it will break the trend line. Lets consider......
Since last two days nifty price is falling and but open interest is decreasing. No indication of fresh short position in index future. 5900 put added 736,750 shares in open interest indicating base on this zone. As per Nifty EOD chart slow stochastic has placed into oversold zone indicating may reverse in near time.
Watch the level carefully tomorrow is very crucial day and tomorrow will decide the next trend. Nifty next support is coming at 5917-5905

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