AUTOMATED TRADING

AUTOMATED TRADING

21 December 2012

NIFTY X- RAY REPORT FOR 21 DEC

Choppy markets chop up your profits. One of the example we saw today. As given below chart nifty hourly chart is in a triangle pattern and either side breakout may happen in Friday session. For current up trend long traders keep stoploss below 5900 level. breaking this level prices may fall to 5880-5840. If breakout up side happen we may a sharp movement till 5970. I expect that current up move in hourly chart is in third internal wave and as per wave theory third wave is a longest wave so I expect that if nifty give a breakout up side and prices may lift to 5970 ++ on hourly chart in Friday session. This view will be invalid if nifty break downside of the triangle trend line till  more than an hour as shown in below charts.
BEARS BEWARE !!!!!!!!!!!!! 



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