Monday, June 21, 2010
Strong Asian Markets lifts Nifty
Following strong Asian Markets, Nifty today(21-6-10) opened at 5329 with a gap up of 66 points, gained steadily up to 5367 (plus 104 points) and closed at 5353 with a gain of 90 points. Nifty futures range was 5316 - 5378. Thursday and Friday Nifty closed near the centre of Sudha Madhyamam (5286) and there was equal possibility for an up move or a down move today. But Nifty has opened gap up today due to strong Asian market cues and closed at 5353, above the Agni level for the day at 5327. Hence, Nifty may move towards top of Sudaha Madhyamam (5464). However, as mentioned in the last post, high volatility up to the the F&O settlement can be expected. Tomorrow's Agni level is at 5355.