Thursday, November 25, 2010
Nifty closes at bottom of P(5797)
Today(25-11-10)also Nifty was highly volatile. Opened at 5900 with a gain of 34 points, Nifty moved in the range 5849 - 5907 up to 13.00, though declined to 5826 at 13.30 by 15.00 it moved up to 5871 and gave the impression that closing will be around 5900 levels. But, the sell off started at 3.00 p.m. shaved off 100 points and Nifty closed at 5800 with a loss of 66 points. Thus Nifty closed today at the lower end of P and below the Agni level. If Nifty slips further it will be M2 area. As tomorrow is an exceptional Friday an up move of 50 to 100 points to materialise. It is to be seen where it closes tomorrow. Nifty futures range was 5909 - 5792. Tomorrow's Agni level is at 5842.