AUTOMATED TRADING

AUTOMATED TRADING

20 February 2013

NIFTY X-RAY REPORT FOR 21 FEB

NIFTY FACED RESISTANCE AROUND 50 DMA AND CLOSED BELOW THIS LEVEL. AS NIFTY FUTURE UP BY 10 POINTS AND OPEN INTEREST INCREASED BY 1.4% INDICATING THAT FRESH LONG POSITION HAS ALSO BEEN ADDED INTO THE MARKET TODAY. AS PER NIFTY EOD CHART THREE CONSECUTIVE GREEN CANDLESTICK PATTERN WAS SEEN TILL YESTERDAY. IN SHORT TERM TREND IS POSITIVE WITH RESISTANCE NEAR 5983 AND 6013 LEVEL. USE THIS LEVEL FOR SELL FOR MID TO LONG TERM PERSPECTIVE. FII BOUGHT INDEX FUTURE WORTH RS 366 CORES WITH INCREASE IN OPEN INTEREST INDICATING THAT SHORTS HAVE BEEN COVERED TODAY.
AS PER NIFTY HOURLY CHART IT SEEMS THAT 1,2,3,4 WAVE HAS COMPLETED AND FIFTH IS DUE TO 6010. IF WE DON'T SEE ANY WAVE EXTENSION ON HOURLY CHART THEN 6010 WILL BE TERMINATION POINT OF THIS UP MOVE. KEEP 5925 AS STOP LOSS FOR ALL LONG TRADE NOW FOR THE TARGET OF 5990-6010.


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