Wednesday, July 2, 2008

Nifty bounced from within the Shadjam band width.

Whether Nandi’s appraisal of market yesterday were gone wrong ? May be. Nandi expected a bounce back from Shadjam level (3969) as told in yesterdays post. Since it didn’t materialize yesterday and the Nifty moved to 3878 Nandi concluded that Shadjam level didn’t held. Today, on seeing the bounce Nandi reappraised the situation. Then it is seen that Shadjam is having a bandwidth of 264 points – 132 points up from 3969 (refer post titled “ Nifty moved to Shadjam? “) and 132 points down from 3969 ie. up to 3837 and Nifty didn’t pass through Shadjam . Now it is felt that Nandi’s expectation of a bounce from the Shadjam was fulfilled. Let us see whether 3837 will be held or not in coming days. By the way, both Soma (4098) and Surya (3850) levels were embraced today by Nifty. It’s levels were 4107.15 and 3848.25. But on going through the Soma Surya levels worked out for tomorrow, Nandi is not satisfied. Today’s up move didn’t reflect in it.

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