Sunday, January 16, 2011
Highest volatility on Makara Sankranti Day
Friday(14-1-11) was "Makara Sankranti" ie. the day Sun transits to Makara Rasi (Capricorn constellation - Sun @ 270°),one of the most auspicious day in India. "Makara Vilakku" is the most important festival in Sabari Mala temple in Kerala. On that day Nifty exhibited highest volatility ie. 221 points difference between high and low of Nifty futures, never seen in 2010. Nifty opened at 5732 with a loss of 20 points, moved down to 5695, moved up to 5834 (plus 82 points), swiftly moved down to 5640(loss of 194 points from the top of the day) and closed at 5655 with a loss of 97 points on averaging. The low was the centre of M2(5642) which was the level given in yesterday's post. Nifty futures range was 5638 - 5859. Agni level for Monday is at 5656.
Now everybody would be eager to know what next. As Nifty's closing on Friday was at the centre of M2 and also at the Agni level, nothing can be said in advance about the movement of Nifty on Monday. Watch it and move along with it. However, if Nifty moves downwards in coming days next level is 5464 ie. low of M2.
Planetary positions as on Monday, the 17th January 2011 is given below.