AUTOMATED TRADING

AUTOMATED TRADING

6 November 2012

NIFTY X- RAY REPORT FOR 7 NOV


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As we clearly see in the chart above that nifty opened gapup and sustaining above the gap from last three days. Therefor until nifty is above this gap no problem for bulls at any price. Nifty closing above 5720 will give more blasting move. Bulls made high of 5731 and closed at 5724 and broke the 15 days trading range. Global trend awaiting for US election result. Technically Nifty remain same as it was yesterday but nifty future closing above 5760 entered into bulls zone. Now the market is buy on dip mode. Nifty spot above 5733 can give a fresh bull move, but Nifty 5800 call added 859850 fresh contracts in open interest giving a signal that it may face resistance around 5775 spot nifty price. Nifty future Nov added fresh 3.86 lakh shares in open interest which is increased by 2.1%, which indicate that fresh long position has been created into the system today. Nifty 5700 put added 638150 fresh shares in open interest, indicating that nifty is ready to hold 5700 level and ready to bounce again. As I have told you that until Nifty future hold 5710 level there is no problems for bulls. Put call ratio increased from 1.10 to 1.12, also indicating that long has been created today. As I have told you yesterday that grab nifty in dip. If nifty 5800 call open interest decreased tomorrow and 5800 put OI increased in intraday day session then long trade can be carry forward above 5770 spot price. If 5800 call price increased with price rising then book profit. 
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