Monday, June 20, 2011

Nifty moves below centre of M1(5286)

Today(20-6-11)Nifty opened at 5377 with a gain of 11 points, slowly declined below Agni level(5372) & swiftly moved down to 5196, moved up to 5314, again moved down to 5250 and closed at 5258 with a loss of 108 points. Nifty futures range was 5379 -> 5182, having a difference of 197 points. Today's fast down move at around 10 O'clock was totally unexpected and it is attributed to tax relating issues on funds routed via Mauritius. Tomorrow's Agni level is at 5269.

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