Repeatition of last week movements.

Just before the opening of NSE today(16-6-09) Singapore Nifty was trading 105 points below yesterday close, DOW Jones was down around 200 points, all Asian markets down and Hangseng more than 500 points. All these indicated a heavy fall around 150 points and close far below yesterday close. But, Nifty falling to the level of 4406 (78 points down)in the opening, stayed near the 4450 levels for a few minutes, gradually moved up to positive zone before 12.00 noon. Then it climbed to 4528 (44 points above yesterday closing level or 122 points from the low of today), slightly came down and closed at 4518 with a gain of 34 points from the yesterday close. Clearly yesterday's and today's movements of Nifty had close similarity to the movements of last Monday and Tuesday, but off course with lesser magnitude. As such Nifty should move up tomorrow and close above 4550. Nifty moving above 4700 again during this/next week cannot be ruled out. Even though Nifty moved down around 300 points, Surya level stayed almost same indicating a bounce. Earlier in no occasion Nifty did move down more than 50 points from the Surya level. Today it was maximum around 110 points which didn't last long. Agni level for tomorrow is 4532 and Nifty moving above that level indicates a buy. The major fall may be in July or August.