Tuesday, May 17, 2011

Nifty range breaks on Full Moon day

Today(17-5-11)Nifty opened at 5496 with a loss of 3 points, moved up to 5524, moved down steadily to 5421 and closed at 5439 with a loss of 60 points. Till yesterday, even after petrol price hike, Nifty was holding the range 5464 - 5642. But today, the Full Moon day, Nifty breaking the lower range moved to M1(Shudha Madhyamam - Bottom : 5123, Middle : 5286, Top: 5464)area. Nifty futures range was 5423 - 5522, having a difference of 99 points. Tomorrow's movement may give indication whether Nifty is headed to middle of M1(5286). Agni level for tomorrow is at 5448

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