NIFTY X- RAY REPORT FOR 13 SEPTEMBER.
The markets closed with robust gain today with metal sector was good gainer. The Sensex closed at 7 month high at 18012, and the Nifty closed at 5254 which is also six month highest closing , up 41 points. In below nifty chart you all will see that nifty has tried to go up above long term trend line but it did not sustain above trend line and it slipped below the trend line on weekly chart. Again it did not sustain below the trend line and came back above the trend line. remember any two consecutive close above trend line nifty may blast.
I highly expect that if nifty try to close above 5450-5500 on weekly basis we may see a blasting rally up to 5705 or 5850. I have not given here the rosy figure to keep you happy or exited but its technically possible target in near term.
Now lets analyzed the data..............
Fii bought index future worth rs 437.39 crore and open interest increased by 3.08%, net 13123 contracts added in open interest in today's market indicating clearly that fresh long position has been entered into the market today.
As I have written in my previous post that bull will try to save 5400 level. But you did not believed and create short in the market.
Nifty 5400 put added again huge 14,58,250 shares in open interest today. 16 lakh added yesterday and 14 lakh added today, total 30 lakh open interest added in two days. So be confident my dear friends that nifty is not going to break 5400 level in September further in normal situation. All long players now keep stop loss at 5390 spot nifty price.
I think there are still lots of short position in the market. Nifty sustaining above 5450 tomorrow a fast movement on the up side may happen in Indian market.
Since so many days I have been saying that good great rally is awaiting in our Indian market but non of you believed. OK don't believe in me but my dear friend just believed in technical system, why do you apply mental funda. Me and our subscribers really enjoy this rally did you ?
5705 coming soon
