AUTOMATED TRADING

AUTOMATED TRADING

20 March 2012

NIFTY X- RAY REPORT FOR 21 MARCH

NIFTY X-RAY REPORT FOR 21 MARCH.
NIFTY CLOSED AT 5274.85(0.34%) UP
5100 PE OI ADDED 421050 SHARES TOTAL 7802050
5200 PE OI ADDED 1029550 SHARES TOTAL 8652700 
5200 PE OI ADDED 581450 SHARES TOTAL 6451500
5100 CE DECREASED -57450 SHARES TOTAL 1011850
5200 CE OI ADDED 60600 SHARES TOTAL 284900
5300 CE OI ADDED 397050 SHARES TOTAL 4601800
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As it was expected a volatile trading session, I shared my views with all of you in morning today.As per option open interest data it has changed today just opposite as it was yesterday. 5300 CE added 397050 new shares in open interest today and 1368650 shares yesterday. total 1765700 shares in just two days. 5200 PE added 1029550 new shares in open interest today and 971900 shares yesterday. total 2001450 shares. huge conflict between 5200 to 5300.....   so what next??????????
Question is if market has to go down who sold 5300 CE. IF market has to go up who sold 5200 PE. who is smarter???????????  No unwinding seen in both strike  price in  two days.
So firstly watch the tomorrow move. hope tomorrow move will be next trend decider. Gap down opening is expected due to global negative clue. Expect another volatile session tomorrow. Watch carefully 5230 level from where from two days market is reversing. Who is smart will be clear tomorrow either put writers or call writers.
As per RSI, and slow stochastic trend is in favor of bears.nifty strong support at 5192 level
Two condition will happen. Here no need to expect anything because market does not run on anybody's expect ion. firstly watch again 5230 level tomorrow. If market sustain here again tomorrow book profit in shorts and watch for clear breakout either above 5290 or 5170.If break 5230 it may fall till 5050 level. Now suppose if not happen this it must recover from 5230 level. Any close above 5290 you will get at least 200 points upside.NOW suppose If market close below 5170 you may get at least 120 points down from there.So don't be aggressive and trade technically.
GOOD LUCK
 INTRADAY SUPPORT AND RESISTANCE
S2-5204/S1-5239/PIVOT-5268/R1-5303/R2-5332.
   
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