Tuesday, March 8, 2011

Nifty moves upwards from low M2

Today(8-3-11)Nifty opened at 5476 with a gain of 13 points, moved upwards to 5526 by 10.00 a.m. and losing upward momentum closed at 5521 with a gain of 58 points. Today's Nifty low & high were 5465 - 5531 and Nifty futures 5467 - 5548. Nifty moved upwards from the low of M2, contrary to the expectation. Nifty is moving in the 21x area ie. between 5376 - 5642 and breaking of the range will give fresh direction. As tomorrow's Agni level is at 5586 avoid shorts if Nifty moves above that.

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