Tuesday, May 26, 2009

Nifty down to Shadjam band width

Present Shadjam bandwidth is 3790 to 4100 (Centre: 3968).On 18th May(upper circuit halt Monday), Nifty leaped over Shadjam band from 3681(Kakali Nishadam) to 4203(Sudha Rishabham) without touching it. Hence on 19th May, 2009 Nandi opined that the surge above 4100 at this time is artificial and it has to come down to 4100 levels. Today (26-5-09)at 3.00 p.m. Nifty slid to 4092(Shadjam band width) and moved up to close at 4117. Tomorrow's Agni level is at 4171. Unless Nifty moves above that level further down side can be expected.

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