Monday, February 28, 2011

Nifty moves to high of M1(5464) and closes above Agni level

Today(28-2-11)the Budget day, Nifty opened at 5337 with a gain of 33 points and closed at 5333 with a gain of 29 points ie. at the opening level itself, ignoring the Budget as a non-event. However, in between Nifty touched the levels mentioned in the yesterday post and declined as expected. Nifty high and low were 5477 and 5309 respectively and Nifty futures 5499 and 5310, having a difference of 189 points. As Nifty closing is above the Agni level it is positive for tomorrow. But, tomorrow's Moon - Venus conjunction, March 2nd's holiday on account of Mahashivratri and Moon - Mars conjunction on Amavasi day(4th March)makes it difficult to say anything. Only advise is to watch Agni level and go long or short based on it. Tomorrow's Agni level is at 5229.

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