Sunday, October 25, 2009

Nifty closes above Agni level


On Friday (23-10-09) though Nifty opened in the expected level of 5050, due to the 4% fall in Reliance Industries shares, market closed weak at 4997 with a gain of just 8 points (or flat at R19A8). During the week passed by, in all days Nifty closed in Anthara Gandharam ie. below 5123 in 20x scale. As next Full Moon is on Monday the 2nd November 2009, it would be better to exit all longs on coming Friday itself. Tomorrow's Agni level is at 4971 which is below the last day's Nifty closing. During the coming week Nifty is expected to stay mostly in Anthara Gandharam and hence no fresh buying is advisable.

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