AUTOMATED TRADING

AUTOMATED TRADING

12 May 2013

NIFTY LATEST ELLIOTT WAVE UPDATE 12 MAY 2012

ACCORDING TO NIFTY HOURLY CHART ENDING DIAGONAL PATTERN HAS SEEN WITH NEGATIVE DIVERGENCE ON MOMENTUM INDICATORS INDICATING NIFTY MAY REVERSE SOON. BUT I HAVE NOT SEEN ANY CONFIRMATION ON PRICE WISE. BREAK OF LOWER TREND LINE OF DIAGONAL PATTERN WILL GIVE FIRST CONFIRMATION AND THERE WILL BE OCCUR A CHANCE TO DRAG NIFTY 5880-5860 LEVEL. HIGHEST OPEN INTEREST IN 6200 CALL OPTION ALSO INDICATING UPPER BOUNDARY AND SUPPORTING REVERSAL VIEW.














ACCORDING TO NIFTY WEEKLY CHART THERE IS ALSO A WAGE PATTERN IS VISIBLE IN NIFTY A-B-C-D-E PATTERN.













BANK NIFTY:-
ON BANK NIFTY CHART BREAK OF LONG TREND LINE WILL DRAG NIFTY TOWARDS 12000 LEVEL.















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