Thursday, January 13, 2011
Nifty back to M2
Today(13-1-11)Nifty opened at 5831 with a loss of 32 points, moved in the range 5810 - 5858 up to 12.00, moved down to 5744 and closed at 5752 with a loss of 111 points. Nifty futures range was 5736 - 5869, having a difference of 133 points. Nifty closing so far this year after SuryaGrahan (Solar Eclipse)on 4th January 2011, is given in the chart below. Nifty movements are sluggish during these days. Instead of improving yesterday's positive closing, Nifty discarded the gains made and closed in M2 again. During the last three days, there was huge difference between Nifty opening and Agni level and it was reduced by Nifty's down move. Ideal condition for a buy or sell in Nifty futures is plus or minus 20 points from Agni level. As such huge difference between is really confusing. That is why it was advised yesterday to follow Day Trading Manthra for a buy. Nifty may decline to centre of M2(5642)in coming days. Tomorrow's Agni level is 5646.