Today(9-3-11)Nifty opened at 5563 with a gain of 42 points, moved down to 5477 (11.35) moved up to 5552 and closed at 5531 with a gain of 10 points. Nifty was highly volatile today and it crossed yesterday closing level many times ( minimum 10 times). Nifty futures range was 5478 - 5573, having a difference of 95 points.
Tomorrow's Agni level is at 5543 and above that Nifty may move to 5600 - 5642. If Nifty moves below today's low it may move to 5400 or lower. Maximum increase in Put today (340,850)is in 5000 strike which dashes a danger signal. So, Nifty below 5477 is to be watched for exit of all longs.