Wednesday, May 18, 2011

Nifty touches 5400 level

Today(18-5-11)Nifty opened at 5461 with a gain of 22 points, quickly moved to negative territory and almost reached the freak Nifty futures transaction figure on 26-4-11 (5393.45)before 1.00 p.m. and closed at 5421 with a loss of 18 points. Nifty futures range was 5398 - 5464, having a difference of 66 points. Tomorrow's Agni level is at 5431.
As Nifty has almost moved down to the freak figure mentioned above (see posting dated 5th May 2011), for the time being correction may end and Nifty may move upwards for a few days in the area below middle of M2(5642). As Nifty has moved to M1 area conclusively today, middle of M1(5286) expected shortly.

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