Sunday, October 12, 2008

Nifty in Chatusruti Daivatham

Contrary to the expectations of Nandi that Nifty may move up to the level of Shadjam, on 10th October 2008 accepting cues from world markets, Nifty moved down to Sudha Daivatham level at 3178 (exact low was 3199 ) before closing at Chatusruti Daivatham band width at 3280. Till now, Nifty has moved down from Sudha Daivatham (6355) to Sudha Daivatham (3178) in old scale ie. ½ of 6355. In normal circumstances this is the maximum that Nifty can come down. But, since the current situations are not at all normal and all world markets are in turmoil under the present circumstances more down ward move can not be ruled out.

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