Sunday, December 12, 2010

Exceptional Friday effect - up move of 128 points

On Friday(10-12-10)though Nifty opened at 5721 with a loss of 46 points, it moved to 5849(up move of 128 points) on strongest Exceptional Friday effect, thereafter moved in the range 5803 - 5866 and closed at 5857 with a gain of 90 points. Nifty futures range was 5748 - 5888, having a difference of 140 points. Agni level for Monday is at 5788.

Even though Nifty closing at 5857 is in P, Nifty average for the day is at 5793 which is just below the boarder and in M2 (see chart below). Hence next two days may confirm where it really is. So at present centre of M2(5642)to centre of P(5952) is the range anticipated for next two days.

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