Tuesday, September 30, 2008

It is time to decouple with US markets

On Monday (29th Sept 2008) closing Dow Jones is down by a huge 777 points. Asian markets also have opened very weak. Therefore chances are that Nifty will follow suit. Nandi feels that Nifty should hold the 3800 level and decouple with US market. Otherwise Nifty's maximum downward target is Sudha Daivatham level in earlier carnatic scale ie. 3178. Let us see where the downward journey ends.

Sunday, September 28, 2008

Nifty again in Shadjam.

Again Nifty moved down to Shadjam and closed the week at 3985.25. As Monday the 29th Sept 2008 is a no-moon day trend reversal may happen. No change in the view expressed in the last post till the level 3800 is maintained.

Sunday, September 21, 2008

Nifty again in Sudha Rishabham

On 19th Sept 2008, Nifty moved up steadily and closed the day at 4245, the level Nandi anticipated in his yesterday’s post. The movement of Nifty during the week passed by was very swift and unparallel. On 12th Sept 08, the last Friday, Nifty’s close was at 4228. Due to the turmoil in the financial systems of USA, from Monday onwards it started to climb down and at the opening on Thursday (18th Sept 08) the low of 3800 (3799.55 exact) which was anticipated in Nandi’s post dated 3rd & 8th Sept 08 was touched and thereafter moved up very swiftly and closed the day at 4038. On Friday the 19th Sept 08, Nifty started with a gap up opening of 140 points and moved further upwards (63 points) to close the week at 4245. That is, a fast 873 points movement within a week.

In Sanskrit “Rishabham” means “Bull” and Nandi feels that as far as Nifty maintains the lower limit of Rishabham band width ie. 4100, the Indian market is in Bull phase. From 4100 to 3800 it is Shadjam a neutral zone. Unless Nifty closes below 3770 and enters the earlier Carnatic scale, it can not be termed as a Bear phase. In both July and September 2008, the level 3800 was held strongly and refused to let Nifty move below that level. Another interesting fact is that, there is no “Bear” in Carnatic Music. Animals and birds linked to Carnatic music in Sa RI Ga Ma Pa Da Ni order are Peacock, Bull, Goat, Crouncham, Kuil, Horse and Elephant. Nandi felt happy as he heard Shri. Rakesh Jhunjhunwala, the well known Indian personality and prominent investor saying that the Indian market is in Bull phase it self, as it supports the view taken by Nandi. In this connection Nandi is of the opinion that the ill fated bull erected in front of the Bombay Stock Exchange, Mumbai be replaced with “Nandi” the vehicle of lord Shiva not only to have a link to our 5000 years old tradition but also to get beneficial effect to the stock market. Whether you noticed or not, after entering to “Vipani Sangeetham”, you might have chanted “Namashivaya” openly or mentally at least three times which is beneficial for India and to the world in general.

The next stage Nifty is expected to move now is crossing of midpoint of Sudha Rishabham & Chatusruti Rishabham (4348) and to Chatusruti Rishabham (4464).

Wednesday, September 17, 2008

Om again and phenomenal up swing

As expected, Nifty once again touched 3800 level (Nandi called 'Om' earlier ) and made a phenomenal up swing not only to cover all losses ( 208 points) but also gained 30 points. It was really unbelievable. In July 2008 Nifty took 4 days for the movement from 4039 to 3800 and back to 4000 plus. Nandi don't know whether this can be called a double bottom, and if so, its implications. On going through the vfmdirect forum comments Nandi was just thinking whether this time the level of 3800 will be breached and Nandi had to post the earlier scale in carnatic music ie. frequency multiplied by 7.75. In that scale 3770 is the midpoint between Kaisiki Nishadam and Shadjam. Nandi now expects Nifty to move to Sudha Rishabham ( 4232 ) level once again and recite "Stayi" ( playing within one swaram) for a few days before its next move.

Monday, September 15, 2008

Another Full Moon day crash

Even though the fall was expected and indicated earlier, the magnitude of today's fall was beyond expectation. Though the news of American financial firm Lehman Brothers filed petition for bankruptcy was the cause of the crash today, it came on a Full Moon day and added one more full moon day crash in the stock market.

Soma & Surya levels are being worked out from the Call & Put figures of previous day. In the days such as today it has very little relevance. Hence, the absence of these figures.

Friday, September 12, 2008

Nifty came down to Sudha Rishabham level

Today Nifty close at 4290 is in the Sudha Rishabham area
( Upper boundary : 4348 Center: 4232 Lower boundary :4100).
If it goes down to 4232 - 4100 then 3800 is a definite possibility.

Monday, September 8, 2008

Nifty still in Rishabham

Despite Monday's gap up opening and 130 points gain in closing on 8-9-08, Nifty closed at today's Agni level (4483) only. Nifty is yet to cross Rishabham bandwidth. It has to cross at least 4611 to enter the area of Gandharam. For a positive view on 9-9-08 Nifty should close above the Agni level at 4522.

Thursday, September 4, 2008

Nifty in Rishabham itself

This time Nifty stayed in Rishabham band itself and does not touch even Gandharam band. %k in slow stochastic above 90% and hence upward move very limited. Therefore Nifty may start moving down. Below Rishabham band (4100) it may touch last low of 3800.