Thursday, May 26, 2011

Nifty closes above Agni level

Today(26-5-11)Nifty opened at 5381 with a gain of 32 points, moved in the range 5356 - 5407 till 14:50, surge there after lifted Nifty 58 points (ie. from 5364 to 5422) and closed at 5412 with a gain of 63 points. Except for the last half an hour, anticipated volatility due to F& O settlement was lacking. Nifty futures range was 5354 - 5414, having a difference of 60 points. Tomorrow's Agni level is at 5346 and it is a signal to hold longs until Nifty slides below that.


mynac said...

Dear Nandi,
Tomorrow's agni level is 5346 Soorya level 5553...huge 200 + points difference and even the roll over for NF is on short side as low,negative cost of carry indicates the same ...Is it the indication? that when everyone is expecting market to go down ..and Nifty shall go much up than expected ? still there is also room left for O.I. addition because after many months later NF new series is starting with just 2.08 CR.O.I.which is the minimum roll over for this year on last day of expiry..

Nandi said...

Dear Mynac,
As you know, Surya levels are being worked out based on Nifty Calls open interest. As such yesterday being the first day of June series the figure cannot be depended fully. Only after a few days it stabilizes.
Regarding your observation "when everyone is expecting market to go down ..and Nifty shall go much up" is 80% true.