Monday, November 17, 2008

Agni level receads and Nifty above Agni level

On 17-11-08 Nifty close was at 2800 where as Agni level for tomorrow ( 18-11-08) is 2723 only which generates a buy signal. %k of slow stochastic chart came down to 8.14 when Nifty was around 2700 level and that can be considered as a confirmation to buy. But considering the weakness in Asian markets in the opening of 18th November, 2008 Nifty may open weak and slide down wards. Therefore do not initiate buy if Nifty does not hold the Agni level at 2723.

No comments: