AUTOMATED TRADING

AUTOMATED TRADING

18 September 2012

NIFTY X-RAY REPORT FOR 18 SEP

NIFTY X-RAY REPORT FOR 18 SEP
The markets closed with moderate gains today with realty was the best  performer with 6.5% gain. The Sensex closed at 18542, up 78 points from its previous close, and the Nifty closed at 5610, up 32 points. The CNX Midcap index was up 2.5% while the CNX Midcap index was up 0.89% in today's trade.
FIIs bought index future worth rs 1122 cr and open interest increased by 5.21%, as nifty was up by 0.57% and open interest increased by 5.21% in rising trend indicates that huge long position was added into the system today.
Nifty 5600 put added 1249900 shares in open interest.
nifty 5700 put added 902100 shares in open interest .
Nifty 5800 call added 2701750 shares in open interest.
As per above option open interest data indicating that 5600 level will create fresh and immediate support in the market. nifty 5800 call open interest added 27 lakh fresh shares into the market, Is that buying by smart money. Because i don't think that 5800 call would have written at 7 rupees price.
Fii have bought more than 5000 crore in last two trading session in cash market. Government has promisses more reforms in coming days so this news will built more confident in investors. Nifty immediate support is now at 5587 and 5555. Until nifty hold this levels no worry for bull in very short term. Market has given straight rally fro 5215 to 5650 so some consolidation is also expected. Use the dips to buy. 
Nifty future touched 5770 yesterday only 30 points less in my prediction but don't worry 5705 coming soon.

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