Thursday, December 9, 2010

Nifty closes @5767 in M2 (Prati Madhyamam)

Today's(9-12-10) down fall in Nifty is more than anticipated and it closed at 5767 with a loss of 137 points in M2(Prati Madhyamam ; Low: 5464, Centre: 5642, Top: 5797). Nifty opened at 5927 with a gain of 23 points, moved down to 5840 up to 13.30, swiftly moved down to 5742( almost 100 points), despite positive opening of European markets. Nifty futures range was 5941 -> 5757, having a difference of 184 points, which is the highest in the year 2010. As Nifty has moved in to M2 it may move to centre of M2(5642) in coming days. As tomorrow is also an exceptional Friday(last 5 days in red) an up move of 50 to 100 points can be expected. Tomorrow's Agni level is at 5843.


BALA said...

Wonder full. Exceptional Friday effect. If Monday to thursday is bullish , then Friday is necessary bearish or Five days absolute necessay
What is the theory /logic behind that

Nandi said...
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Nandi said...

Dear Bala,
The Exceptional Friday effect is upwards only. What you said is not valid. What happened yesterday is condition No.2. The logic behind this is yet to be unearthed.