Monday, February 7, 2011

Nifty closes flat without reveling its further direction

Today(7-2-11)Nifty opened at 5398 with a gain of 2 points, moved in the range 5385 - 5421 up to 14.00, moved up to 5440 just before 15.00, spared all gains and moved down to 5377 and closed flat at yesterday's same position(5396). Nifty futures range was 5370 - 5445. As tomorrow's Agni level is at 5403, today's closing though flat gives a negative bias. Nifty is swinging in between centre of M1(5286) and high of M1(5464). Let's wait for tomorrow also to see which direction it flows.

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