AUTOMATED TRADING

AUTOMATED TRADING

4 November 2012

NIFTY X-RAY REPORT FOR 05 NOVEMBER

NIFTY SPOT CLOSED AT 5697.70 AND NIFTY FUTURE CLOSED AT 5739.55 WITH 41.9 POINTS PREMIUM IN CURRENT SERIES. NIFTY CLOSED ABOVE ITS FALLING TREND LINE WHICH COMES AROUND 5675. IF NIFTY SUSTAIN TOMORROW ABOVE THIS TREND LINE THEN WE CAN EXPECT MORE UP SIDE RALLY UP TO 5775 LEVEL IN NEXT TWO DAYS.
NIFTY 5700 PUT ADDED 797,550 SHARES IN OPEN INTEREST AND 5700 CALL DECREASED 884,100 CONTRACTS FROM OPEN INTEREST WHICH INDICATES THAT 5700 LEVEL IS READY TO GIVE STRONG SUPPORT NIFTY. 
FIIs BOUGHT INDEX FUTURE WORTH RS 702.43 CORES AND TOTAL 7.9% FRESH OPEN INTEREST ADDED IN CURRENT MONTH, INDICATING THAT FRESH LONG POSITION HAS BEEN ADDED INTO THE MARKET ON FRIDAY SESSION.
NOW LETS TALK ABOUT THE CHART. DOJI CANDLESTICK PATTERN HAS FORMED ON NIFTY EOD CHART. AS PER NIFTY RSI AND SLOW STOCHASTIC INDICATING THAT INDICATORS HAS TURNED UPSIDE AND GIVING BUY SIGNALS ON EOD CHART. I HOPE THAT PRICE IF SUSTAIN ABOVE THIS TREND LINE MAY HIKE UP TO 5950 IN COMING TIME IN THIS MONTH.
VERY SHORT TERM TRADERS MAY KEEP THEIR POSITION TOWARDS LONG SIDE WITH STOP LOSS AT 5710 NIFTY FUTURE LEVEL, AND MID TERM TRADERS MAY KEEP STOP LOSS AT 5685 
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