Friday, January 28, 2011
Nifty touches low of M2(5464) and bounces 67 points
Today(28-1-11) Nifty opened at 5582 with a loss of 22 points, moved up to 5610, moved down steadily to touch low of M2(5464)as mentioned in the post dated 16-1-11 under the caption "Highest volatility on Makara Sankranti Day", bounced back 67 points(5527)on Exceptional Friday effect and closed at 5512 with a loss of 92 points. Nifty futures range was 5485 - 5622, having a difference of 137 points. Monday's Agni level is at 5572.
Next move of Nifty can be assessed only after viewing Monday movements. However, if Nifty goes below 5464 next stop is centre of M1( 5286). Possibility of Nifty moving to Shadjam (3968) during April/May 2011 is improving. Please see the post "Ma" of "PaHiMa" ? dated 28 - 11 - 2010.
Don't miss the beautiful story posted on 29th January 2011 in Ilangoji's blog
See this on Fibonacci numbers