AUTOMATED TRADING

AUTOMATED TRADING

20 June 2013

NIFTY UPDATE FOR 21 JUNE

  CHOTA BACHHA SAMAJH KE MUJHKO NA SATAANA RE............ DUBI DUBI DUB DUB...........
ENJOY  BEARS  CHEERS !!!!!!!!!!!!!!!!!!!!
MARKET BIGGEST FALL AFTER 2011.
SINCE SO MANY TIMES I WAS WRITING ABOUT THIS DOWNFALL BUT YOU DID NOT BELIEVE THIS TIME ALSO.
RECENTLY ON 17 TH JUNE JUST THREE DAYS BACK I POSTED THIS CHART SCENARIO. JUST HAVE A LOOK......
5650 CAME TODAY.......
Now what next...........................
Nifty 5700 call option added fresh 4227250 contracts in open interest. Nifty 5600 call added 1955300 fresh contracts in open interest indicating huge call writing has created into the system. FIIs sold index future worth Rupees 1071 crores and open interest increased by 16.2%. Huge fresh short position has been created into the system. FIIs sold shares worth Rs. 2094 crores in cash market today. Earlier bullish island reversal pattern had formed on the nifty chart but today again it formed bearish island pattern. As per nifty weekly chart if nifty break and give a close below 5630 than 5332 is next support on nifty. As I had warned you that upmove is not sustainable and nifty reversed from that level. Over all sentiment is bearish. 5332 is coming soon.
More details to our subscribers.
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Enjoy.........
GOOD LUCK
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17 June 2013

NIFTY ELLIOTT WAVE SCENARIO

Nifty fell exactly up to 76.4% retracement level and reversed sharply. But what is the next ? Is the major trend has changed now or still remain in negative. Posting below two chart to understand the possible pattern.
According to my wave count 5884 to 5934 will provide good selling opportunity. This view will be invalid if nifty cross above 5934 level. If nifty cross above 5934 we will post another wave scenario.
click on chart for its larger view.

 
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