Nifty today (16-7-09) was highly volatile. Even though opened with a gain of 71 points (4305), the momentum could not be sustained and succumbed to selling pressure. By 12.00 noon it lost all gains and moved to negative territory. Negative high was -29 points (4205). After 12.00 noon Nifty's movement can be summarised as 4240 + or - 35 points.
Agni level for tomorrow is at 4213 and if Nifty drifts below that level traders should exit all longs and shift to short. As Nifty closed flat today at 4231, very near to Agni level and it is a Friday, there is every chance that Agni level will be breached in the opening itself.
3 comments:
What's your opinion about coming New moon and Eclipse...
Eagarly waiting... is it a uptrend or downtrend... what is the majority possibilities?
Technically, looks like overbought also and breakout also...
Dear Sujatha,
In majority of cases, days after new moon are good for market and effects of full moon are adverse. Many of the major crashes are on full moon days or previous/next day.
This coming 22nd July not only a new moon day but also a solar eclipse day. As this solar eclipse coming after so many years its effects on market is yet to be seen. Many predict Earthquakes, Tsunami ect. near to it. If such things happens it will definitely effect market adversely.
Yes, many predict...
Already last week Indonesia affected by Earth quake and Newzeland had a small tsunami (with earth quake) believe u know the news... but God's grace no casualities...
Thanks for your reply
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