Sunday, January 23, 2011

Volatile week ahead

Last Friday(21-1-11) Nifty opened at 5687 with a loss of 25 points, moved in the range 5675 - 5718 and closed at 5697 with a loss of 15 points. Tomorrow's Agni level is 5711.

Last week Nifty was in a lull mood and Friday(14th) to Friday(21st) closing can be summarised as 5700 plus or minus 40. As tomorrow's Agni level is at 5711 go short if Nifty moves down that level. Go long if Nifty moves above 5756. As it's a F & O settlement week and RBI's credit review is also due Nifty may be highly volatile.

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