Tuesday, June 24, 2008

Nifty may be heading to Shadjam (3969)

Contrary to the expectation of Nandi, in the afternoon of today Nifty moved downwards and reached at 4156 before closing. That means Nifty may be heading towards Shadjam level ie. 3969. That is the base level “Sa” where Nifty started in April 2007. Hope Nifty will complete the raga there and start a fresh one. Retail investors should note down the Agni (Fire ) level and exit all longs when Nifty touches it. Further, to avoid probable damages no purchases be made for holding, when Nifty is below the Agni level. Agni level is being worked out based on the formula given by Kamolikav

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