AUTOMATED TRADING

AUTOMATED TRADING

14 December 2012

NIFTY X RAY REPORT FOR 14 DEC

Market break the important support yesterday and now standing at crucial support level. Two days before i mention a level 5837. Remember this level is a trend decider level. If break then short term trend can be negative and long term trend line is at 5680 if break this level the real blood bath will start till 5090. I expected that market will jump towards 6100 but it faced resistance near 5950-60 level and fell down. Now there could be two possibilities forming on hourly chart.
1.-- It has formed double bottom formation. market can take support at this level or,
2.-- It may touch lower trend line on hourly chart which is around 5800.
Watch this level care fully.
IF MARKET DOES NOT CLOSE ABOVE 5900 TODAY THEN EXPECT THAT NEGATIVE IMPACT IS HEAVY ON MARKET.


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