AUTOMATED TRADING

AUTOMATED TRADING

6 May 2013

Nifty Update for 07 May

Nifty fell just after Rbi policy yesterday but soon it recovered and manage its low which was created just after policy. Today nifty again gave respect around that level and closed at 5971. Support at lower level since two days indicating that once more minor move up to 6050-70 is due in the market. Metal index ultimately woke up and help nifty to close at higher level. Nifty 
As per wave perspective today's fall seems completed b wave and c wave is rising from 5930 level for the possible target 6050-70. Nifty 5900 put added 481,750 fresh contracts in open interest indicating that 5900 put has been written today. If tomorrow 6000 call open interest decrease then it will be cleared that nifty will touch 6050 level. Political uncertainty will increase the volatility in day trading.  

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