Nifty's strength could not hold the level

Even though opened weak, till 12.45 p.m. Nifty could manage 2924 level. Downward move accelerated after the weak opening of European markets. Nifty slided down wards to 2887 levels and closed at 2893. So, the hope for an upward move (to cover the Agni level at 2990)didn't materialise due to the adverse global conditions. Tomorrow's Agni level is 2984 and it is 91 points down from the Nifty closing. Therefore, expect a normal Friday movement with down ward bias. Off course, Laluji's Rail budget could paint a little different picture. Watch and trade accordingly.