AUTOMATED TRADING

AUTOMATED TRADING

1 November 2012

NIFTY X-RAY REPORT FOR 2 NOV 12

5815 TO 5583 NIFTY COMPLETED 38.2% CORRECTION IN 4TH WAVE AND REVERSED FROM THERE AND GAVE A CLOSED ABOVE 5637 LEVEL. AS I HAVE POSTED IN MY INTRADAY SESSION THAT IF NIFTY CLOSE ABOVE 5637 IT WILL BE CONFIRMATION OF COMPLETION OF 4TH WAVE AND STARTING OF NEXT UP (5TH) WAVE. OPTION OPEN INTEREST DATA ALSO SUPPORTING THIS VIEW.
NIFTY 5600 CALL ADDED ONLY 32250 FRESH CONTRACTS IN OPEN INTEREST AND 5600 PUT ADDED 5,84,100 CONTRACTS IN OPEN INTEREST AND STANDING WITH 2ND HIGHEST OPEN INTEREST IN PUT SIDE AT 58,11,100 WHICH INDICATES STRONG BASE AT 5600 LEVEL. ANY CLOSE ABOVE 5735  BULLS WILL TAKE NIFTY TO 5950-6050 VERY SOON. 
FIIS BOUGHT INDEX FUTURE WORTH RS 233.15 CORES AND OPEN INTEREST DECREASED -1.8% WHICH INDICATES THAT NO FRESH BUYING INTEREST HAS BEEN SEEN FROM FIIS SIDE TODAY. FIIs BOUGHT 334 CORES IN CASH SEGMENT.
AS PER NIFTY EOD CHARTS ANALYSIS A BULLISH ENGULFING CANDLESTICK  PATTERN HAS FORMED TODAY WHICH IS IN FAVOR OF BULLS. NIFTY PRICE HAS CLOSED ABOVE 34 EMA. AS PER SLOW STOCHASTIC INDICATOR IT HAS GIVEN BULLISH CROSS SIGNAL ON EOD CHART. NIFTY HAS TAKEN SUPPORT ON  4 MONTH MIDDLE TREND LINE AND IT SEEMS THAT IT IS TRYING TO KISS THE UPPER CHANNEL TRENDLINE.
FOR FRIDAY SESSION CARRY LONG POSITION IF NIFTY CLOSE ABOVE 5680. EXIT LONG POSITION IF NIFTY BREAK 5635.
GOOD LUCK
 
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