AUTOMATED TRADING

AUTOMATED TRADING

21 August 2012

NIFTY X-RAY REPORT FOR 21 AUGUST


Nifty has hit three months high on 17/08/2012
As per RSI ,NIFTY is in over bought territory with a value of 84.51
As per fast stochastic ,NIFTY is in over bought range with a value of 87.55As per slow stochastic , S&P CNX NIFTY is in over bought range with a value of 92.27
Nifty 5300 put added 785,700 shares in open interest with total open interest at 9,419,700 and Nifty 5400 put added 924,200 shares in open interest, indicating nifty will not go below 5300 in near term and may take support at this level. 5400 put has also written indicating that bull will try to take nifty once again above 5400 level.
Fiis bought index future worth rs 279 cr and open interest increased by 8208 contracts indicating clearly that fresh long has been buildup by Fiis into the system. and they have used the dip for buying. Nifty future went above 5400 but came down after CAG report came into the Market. 
5380 to 5400 level is acting as supply zone. Any close above 5400 level bull will take Nifty upto 5480 and 5555. Long players must keep stoploss at 5280 and be long untill the music on. 

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