Today(19-8-10)Nifty opened at 5506 with a gain of 27 points, declined a bit to 5495, moved up to 5545 and closed at 5540 with a gain of 61 points in M2(Prati Madhyamam -
low, Centre & High are 5464, 5642 & 5797 respectively). Though a move to the centre of M2(5642) is logical, other figures are not supporting for such a move now. Today's Nifty PE is @ 23.28. Nifty futures range was 5486 - 5534, having a difference of 48 points. Tomorrow's Agni level is at 5494.
3 comments:
M2 - 5642 is logical sir without any sideways? as FULL moon day is nearby.
If sideways/correction comes where it will take support
regards
Dear Sujatha,
In general you can take centre of the next lower level as a support. Soma level also can be taken as a support.Supports and resistances as such does not exist in musical approach. If rendered correctly, flow from one level to other levels must be smooth, gentle and soothing.
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