Wednesday, September 30, 2009
Nifty closes above Soma level for the day.
Nifty today (30-9-09)opened at 5021 with a gain of 14 points, came down to 5010 (10.00), and steadily moved upwards to reach 5088 before closing at 5084 with a gain of 77 points. Today's Soma level was at 5073 and Nifty touched it at 14.25 and gained 15 points more to reach 5088. Today's Nifty futures range was 5080 - 4992 with a difference of 88 points. Tomorrow's Agni level is at 5035 and Soma level 5158. Nifty may move to 5120 before starting its descend. Exit when Nifty declines to Agni level. Next full moon is on Sunday, the 4th October,2009 and a trend reversal can be expected on nearby dates.
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3 comments:
"a trend reversal can be expected"
Hm... today started? as nifty already in overbought position, so shall v take into consideration (the reversal) for downtrend? and hold puts? small, small tsunami(S) are on the way... Sensex also in ending diagnol?
Thanks & regards
Dear respected nandi
your guidence about the markets are really helpful and i really thank you from the bottom of my heart. i am a positional trader in nifty and request you to throw some light on positional nifty whether longs or shorts should be carried over on daily post.
please help us by giving your view on positional nifty also
thanking you
naresh k c
Dear Naresh,
"Whether longs or shorts should be carried over ?" is the query you raised. The answer is very simple. Carry the longs if Nifty is above the Agni level and carry the shorts if it is below. When ever cross over is expected, it is being said in the post. Keeping positions based on Agni level is for positional traders.
For day trading search for "Yada Yada Hi Dharmasya" in google. Consider 20 points plus retracement for daily trend reversal and put 24 points SL.
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