AUTOMATED TRADING

AUTOMATED TRADING

3 March 2013

NIFTY X- RAY REPORT FOR 04 MARCH

Past session Report:-

The markets closed with moderate gain last friday with realty being the worst performer. The Sensex closed at 18918.52, up 56 points from its previous close, and the Nifty closed at 5719.56, up 27 points. The CNX Midcap index was up 1.09% while the CNX Smallcap index gained 0.02% in Fridays's trade. The market breadth was positive with advances at 780 against declines of 635 on the NSE. CNX media sector jumped 1.90% in friday's session. Maruti jumped highest with 5.28% in Nifty 50 stock while DLf was the biggest looser on nifty with  -5.97%

Current technical:-

Nifty closed with -2.3% in previous week and closed below its middle band of bollinger with negative sentiment. As per nifty. As per Relative Strength Indicator (RSI), it is placed in oversold zone but not any sign of recovery yet. However, recent price moves on 01/03/2013 indicates trend reversal and stock may rise in near future. Nifty is in short term down trend. Bullish harami Candlestick pattern has formed on NIFTY EOD chart on 01/03/2013 Prior to pattern formation this share was in downtrend. As per slow stochastic , NIFTY is in over sold range with MACD downside cross signal. Nifty is in consecutive downtrend since five weeks.
Nifty 5700 put added 567,700 contracts in open interest which is standing with highest open interest at 6,728,450 on the put side. While nifty 5700 call has 2,549,350 with the addition of 990,600 fresh contracts in friday's session. As nifty was up by 27 points and open interest added much than 5700 put indicating volatile session ahead. Put call ratio is at 0.8 indicating that price may take support very soon.

Further technical prediction:- 

Nifty is in strong down trend on both  daily and weekly chart. As per charts seems that next phase of downtrend has been started which should last in five wave down trend structure till next 13 months. There are high probablities that stock may fall in 5630-5530 range. There is a big gap on Nifty daily chart around 5447-5527. In current situation if nifty continue its downtrend then it may kiss this gap level in very near term. Weekly chart indicating that there is still lot of downmove is due in the market before any meaningful bounce. Short side trading is better than long side trading in current situation. However nifty is showing in oversold zone but not any recovery indication seen till now.
Downtrend stoploss at 5820
Target expected - 5630 and if broken than 5530.

Good luck



Posted by at

Disclamer:-

Futures and Options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Futures and Options markets. Don't trade with money that you can't afford to lose. This is neither a solicitation nor an offer to Buy/Sell Futures or Options.

The contents of this site are for general information purposes, only. The strategies/plan discussed above in this thread/site is made by me based on data which is operated and maintained by third parties. However it is tested and proved every attempt has been made to assure accuracy, but it is by me only. We assume no responsibility for errors or omissions. Examples on this site and in the manual are provided for illustrative purposes and should not be construed as investment advice or strategy. The future data manual is for informational purposes only. These predictions/tips are technical , based on charts conditions ONLY. This is only a guideline, the decision has to be taken after logical thinking by you. Technical analyst and astrologist will not be liable for any personal or financial losses or profits.

The information and views in this website & all the services we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.

By your act of reading this independent and individual market research, you fully and explicitly agree that Rajesh Singh or My website (www.niftyeyes.blogspot.in/www.niftyeyes.in) will not be held liable or responsible for any decisions you make regarding any information discussed herein. Take a proper advice from a certified adviser before invest in future and option market.