Saturday, March 14, 2009
Why Nifty surged on Friday ?
The surge of more than 100 points in Nifty on Friday was unanticipated, at Thursday EOD. As Singapore Nifty was up by more than 90 points on Friday morning a gap up of around 50 points was certain. Medias attribute it to global cues and short covering. But, Nandi believes that it may be due to conjunction of Uranus with Sun which took place in the early morning on Friday, the 13th March 2009. This piece of information was gathered late in the evening from vfmdirect forum and could not be made use of. As Nifty was above Agni level, there was no need to exit longs / calls on Thursday. But anticipating a normal Friday movement in Nifty and down ward movement any time after 15th March 2009, on Thursday itself Nandi had exited the 2700 call and moved to 2600 put. Hope it may benefit in coming days.
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3 comments:
Thank u nandhi sir.
I am also holding 2600 put and exited from my 2700call on friday.If nifty moves above agni level,Shall i exit from my put? or wait till which level...Pls tell me.
By,Raji
Dear Raji,
Now itself Nifty is above Agni level. Hence we have to look for the next event of Agni level moving above Nifty and that is the time to exit longs and buy puts. As we have already bought puts let us see what is tomorrow's levels.
Thank u sir
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