Sunday, February 20, 2011

After Friday's down move Nifty closes at low of M2

On Friday(18-2-11)Nifty opened at 5558 with a gain of 12 points, moved upwards to 5599, moved down steadily to 5442 and closed at 5459 with a loss of 87 points, at low of M2(5464). Nifty futures range was 5589 -> 5436, having a difference of 153 points. As anticipated in the last Sunday (13-2-11)post, 18th February (Full Moon Day)was a down day as seen above. Nifty will be highly volatile next week due to F& O settlement and Union Budget. Probable Nifty range for the next two weeks is Low of M1(5123) & High of M2(5797). Traders having low tolerance level may keep aside and enjoy the fire works. Tomorrow's Agni level is at 5584 and Nifty may move down to 5400 levels.

Note: Sensex had a date with time on last Pournami(Full Moon day). It closed at 18,211 exactly matching the date 18-2-11.

Nifty & Nifty futures figures on Thursday (17-2-11) are given in the chart below for future reference.

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