AUTOMATED TRADING

AUTOMATED TRADING

9 April 2012

NIFTY X-RAY REPORT FOR 10 APRIL


As it expected that market should reverse from 5375 level it has given very good proof today. Expect blood bath till 4900 level in coming days but it’s not a technical confirmation. Any close below 5130 will confirm this fall. After a long time FII sold 1091.98 cr in future market. FII sold today 269.43cr in equity market. Nifty future open interest decreased by 2.23%, indicating long unwinding by FIIs.

Today we have seen huge open interest build up in 5200 CE +427400 and 5300CE +710100 contracts along with decreased in both 5200PE -433200 and 5300PE -520650 contracts comparatively, indicating clearly more down side move for next session. Technically RSI and slow stochastic indicator are giving more power to bears.

Market is moving in a range since two months and gradually range is shifting below. Now market range is 5135-5400. We will see minimum 200 points fall if market break its down side range. All global clues are supporting for bears. There are lots of domestic event in our Indian market so expect volatility in coming rest of week. India vix index reversed after taking support at 20 levels which I have told you in my previous pots.
INTRADAY DAY SUPPORT AND RESISTANCE LEVELS

Resistance1    Resistance2     Resistance 3      Resistance 4       Resistance 5
5256.25            5274.39             5292.56              5310.76                5329
Support 1        Support 2          Support 3            Support 4            Support 5
5202.01           5184                  5166.01                5148.06               5130.14

Recommendation:
Buy at / above: 5238.14 Targets: 5253.62 - 5271.75 - 5289.91 - 5308.11
Stoploss : 5220.06
Sell at / below: 5220.06 Targets: 5204.61 - 5186.59 - 5168.59 - 5150.63
Stoploss : 5238.14
 
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