Friday, January 7, 2011

Nifty closes @ 5905, below centre of P(5952)

Today(7-1-11) Nifty opened at 6030 with a loss of 18 points, moved up to 6051, declined to 5977 - 6000 range till 13.00, moved down swiftly to 5884(- 164 points) and closed at 5905 with a loss of 143 points. Nifty average today was 5967 ie. centre of P(5952). Nifty futures range was 5891 - 6072. Monday's Agni level is at 5968 which is incidentally average of today. Go long when Nifty moves above Agni level.

Last four days decline is similar to last months decline ( see chart below)

Note: Nandi is on a tour from Saturday to Monday. Hence today's post. Monday's post may be delayed. As advised in January 2 post, go by figures only - nothing else.

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