Today(7-10-09) Nifty opened at 5077 with a gain of 50 points. But, soon it started to decline and till 12.00 noon the low was 5043. Afternoon session saw further decline up to 4973 before closing at 4986 with a loss of 41 points. As can be seen, Nifty high was 5077, just below Agni level at 5083. Today's low was near centre of Anthara Gandharam at 4960. Though Nifty bounced back yesterday, that strength was lacking today. Tomorrow Nifty may move above Agni level at 5017. But, since yesterday's strength is lacking today and there is a doubt whether Nifty touched upper Shadjam at 5111 on 1st October, 2009 (see the chart) buy is not advisable. Nifty may perhaps move up again to touch 5120, let it be, stay away from any fresh buying.
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