AUTOMATED TRADING

AUTOMATED TRADING

2 January 2014

INDIAN MARKET LATEST UPDATE

Market opened flat but suddenly it move up and broke previous resistance level at 6345 but it slide nonstop in second half. Since past one week we have been written to our clients that 40% stocks are showing negative divergence on daily or hourly chart, and advised to trade cautiously. Further Nifty has broken it range in which it was spending time from last week and closed today its previous week low. Bias are totaly negative on daily and weekly basis. Bollinger band provide us very useful support and resistance level in range bound market. As per nifty daily chart Bollinger band support is around 6134. All important momentum indicators are showing reversal on pattern.
As per Elliott wave we can assume that this down move is c wave and it may touch 5970 level very soon. After that we will consider that nifty enter again in third standard of correction or it will fall further after little up move.
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31 December 2013

NIFTY AND STOCKS UPDATE FOR 31 DEC

SBIN

NIFTY
We have some alternate view on nifty. We have labelled as per Elliott wave perspective in chart below.
Lots of stocks showing negative divergence on chart. Trading towards upside should be very cautious. Why we are saying this because nifty above 6320 level has failed to show strong momentum 
The overall structure is not looking  impulsive as of now. This increases the possibility that wave b from the high of 6415 is still ongoing in the form of Flat correction. We need few more days to confirm the next move. Trade Intraday for few days.

BANK NIFTY

HPCL



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