Tuesday, May 12, 2009

Nifty again in Kakali Nishadam

Yesterday, Nandi was confused regarding the movement of Nifty. While it seemed that Nifty was heading to a low before the declaration of Election results, the Soma/Surya figures were staying almost at the same levels without showing any indication of weakness. Further, Nifty has to move to 3968(Shadjam) around these period. So, decided not to say any thing. Today(12-5-09) till 12.30 p.m. the direction was not clear. But, after 12.47 p.m. Nifty surged with high velocity and by 3.30 p.m reached 3692 (gain of 137 points), before closing at 3681 with a gain of 126 points. Today's closing is near the closing on 7th May, 2009 (3684). That means, last two trading days (Friday & Monday)losses have been fully recovered in one day's up move. As said earlier this week and next two weeks are very crucial and high volatility can be expected.

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