AUTOMATED TRADING

AUTOMATED TRADING

12 September 2011


Another short term bottom is on the way where another, better "trading opportunity will emerge" after 2 or 3 days similar to the "trading opportunity that was offered in the last 10-11 trading days". Presently the immediate direction is down.

1. ICICI BANK
2. RELIANCE
3. SBI
4. TATA STEEL
5. SAIL


 LOOKS LIKE A TRADING RANGE

Well, we had a down day today, so the 4700 support and 5200 resistance appears to get a bit more confirmed. I believe we remain in a bear market. Bear market rallies can be sharp and swift. At some point, these rallies will face resistance. If we go above 5200, the market will be giving a message of strength, at least in the short term.


The Nifty has rallied strongly, almost 450 points from its 4700 low. Now, the Index faces strong resistance as it tries to cross the 5200 gap. It is possible that the market may struggle to cross this threshold for some days. The short term trend is up so dips should find support. This means that rallies will face resistance at the 5200 threshold, while dips should find support because the short term is up. This leads to a choppy market scenario.
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