AUTOMATED TRADING

AUTOMATED TRADING

4 September 2012

NIFTY UPDATE FOR 6 SEP

NOTHING CHANGED TO MUCH IN LABELS BUT SOMETHING CHANGED IN TECHNICAL SIGNAL. MARKET WAS GIVING CLOSING BELOW 50 DMA SINCE 2 DAYS BUT THERE WAS  NOT TO MUCH SELLING PRESSURE AND TODAY IT CLOSED ABOVE 50 DMA ON DAILY CHART. ON DAILY CHART SLOW STOCHASTIC INDICATOR IS IN OVERSOLD ZONE. NIFTY HOURLY CHART HAS GIVEN BREAKOUT AFTER 11 DAYS ABOVE ITS FALLING TREND LINE, THIS IS A GOOD REVERSAL SIGNAL THAT NIFTY MAY GO UP IN NEAR TERM. NIFTY SPOT SUSTAINING ABOVE 5300 WILL GO TO 5375 VERY SOON.
IF YOU WILL KEEP PATIENCE YOU WILL MUST SEE NIFTY ABOVE 5630  IN SEPT. HIGHEST OPEN INTEREST IS STANDING AT 5200 PUT SO EXPECT 5200 LEVEL IS BASE FORMATION IN NEAR TERM IN SEP SERIES. 
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