Monday, December 1, 2008

Nifty slides back to Agni level

Today (1-12-08) Nifty opened firm as expected and moved to 2833. After the negative opening of European markets, it slid back through the Agni level at 2775 and closed at 2683,down by 72 points. Thus the up move anticipation has been dissipated and the immediate trend is down. Nandi always advised to exit all longs once Nifty touches Agni level and wait for the emergence of Nifty from the Agni level. Nandi apprehends that Nifty may retest the October low or even go below that during December, probably from the Full Moon Day ie. 12th December,2008.

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