Friday, April 3, 2009

Nifty again in Sudha Daivatham

Nifty Thursday(2-4-09)movement was extremely smooth and better than expected. Even though up move was expected, the opening with a gain of 58 points, and steady increase of gain up to 169 points and closing at 3211 with a gain of 151 points was not at all anticipated within one day. As Nifty opening itself was very high, many(including Nandi) had missed this opportunity. Just before that for 3 days it was in a 2960 - 3110 (150 points) range. Now, Nifty is in Sudha Daivatham as in January 2009 and back in October, 2008 just before the October low of 2253. For further up move it must cross the upper limit of Sudha Daivatham at 3263. But one thing noted is Soma Surya levels are not reflecting the up move of 151 points; Soma level moved up just 15 points. Therefore, there are chances that last days up move may be dissipated during next week. However don't jump in conclusions; trade with care.

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