Wednesday, August 19, 2009

Nifty down to lower boarder of Chatustruti Rishabham

Contrary to expectation of an up move, Nifty today (19-8-09) opened with 4 points loss, moved up to 4478 (10.25) and traversed downwards to the lower boarder of Chatusruti Rishabham at 4353(12.18), a loss of 106 points. After that it oscillated between 4380 - 4425 and closed the day at 4394 with a loss of 65 points. Today's low was 6 points lower than the latest low of last Wednesday (12th Aug), but did not breach Chatusruti Rishabham band width. As tomorrow's Agni level is at 4402, Soma Surya levels is staying at the same levels of yesterday and 21st August is a new moon day which in majority occasions beneficial to the market, it is definitely a buy if Nifty trades above the Agni level.

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