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.