Sunday, December 26, 2010

Nifty above 6000 for Christmas

On last Friday(24-12-10)Nifty closed at 6012 with a gain of 32 points and supported the celebration mood of Christmas. Though Nifty opened at 5940 with a loss of 40 points, by noon it recovered all losses and moved to positive territory and reached a high of 6017 before closing at 6012. Nifty futures range was 5966 - 6042. Agni level for Monday is at 6032.

Coming week being the last week of 2010, Nifty may be highly volatile and may move towards 6072(Ni) & top of P(6154). During the closing of this calendar year negative factors such as severe cold wave in European countries and consequent disruption in air traffic as also crude oil price rise, North - South Korean boarder tension and exorbitant price hike in food items in our country are prominent than positive factors such as very encouraging advance tax figures and GDP growth. Net effect may be a muted advance in Nifty.

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