AUTOMATED TRADING

AUTOMATED TRADING

20 July 2012

NIFTY X-RAY REPORT FOR 20 JULY.

 LAST DAY SNAP SHOT:-

The markets closed positive yesterday with IT, oil & gas and consumer durables being the best performers. Capital goods and power, too, gained significantly and auto remained the only sector that closed negative. The Sensex closed at 17279, up 94 points from its previous close, and the Nifty shut shop at 5243, up 26 points. The CNX Midcap index was up 0.3% while the BSE Smallcap index gained 0.4% in yesterday's trade. The market breadth was positive with advances at 780 against declines of 660 on the NSE.
CURRENT TECHNICAL CONDITION:-
As per Nifty EOD charts  Bullish gap up Candlestick pattern has formed on NIFTY daily charts yesterday and slow stochastic supporting for up move.
FIIs bought 28000 contracts of nifty future worth Rs. 653.93 CR. and net open interest increased by 33352 contracts. Market moved in 20 points tight range whole day yesterday and FIIs bought huge quantity in nifty future. The clear indication is huge Fresh long has been entered into the system yesterday by FIIs which indicates a fresh new  and powerful innings will start  very soon.
Nifty future up by 33 points and open interest decreased by -0.4% indicates that shorts have been covered by retail players in previous session. Net 24.4% open interest has increased in next series indicates long rollover for the next session.
Nifty 5200 put open interest increased by 895,700 shares and 5200 call open interest decreased by 529,100 shares, indicating up move for coming session.nifty 5300 put open interest increased by 394,600 shares and 5300 call open interest decreased by 453,800 shares. 5300 put price reduced its premium by 29.60 and open interest increased indicates that 5300 put has been written yesterday.
Nifty made low 5177 and gave recovery of 90 points in last two session indicates market is preparing for next up wave which will go to 5555-5600.
Since so many days I have been writing that I expect expiry above 5400 and you all will see 6000 level in next two or three  months. 
Hold longs to enjoy big amount in coming session.
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