Sunday, July 31, 2011

Nifty opens at bottom of M2 & moves up 66 points


On Friday(29-7-11)Nifty opened at 5454(bottom of M2), moved up to 5520 (up move of 66 points)on Exceptional Friday Effect as anticipated in the last post, moved down to 5463, moved up again to 5518 (up move of 55 points)and closed at 5482 with a loss of 6 points. Nifty futures range was 5456 - 5531, having a difference of 75 points. As tomorrow's Agni level is at 5448 cover your shorts and go long if Nifty remains above that level.

Thursday, July 28, 2011

Nifty's down move continues


Today(28-7-11)Nifty opened at 5491 with a loss of 56 points, moved in the range 5476 - 5512 and closed at 5488 with a loss of 59 points. Nifty futures range was 5473 - 5517 having a difference of 44 points. Being the next trading day after F&O settlement, tomorrow is an exceptional Friday and there is a possibility of a 50 to 100 points up move intra day. If it does not materialise then Nifty may continue its downward journey in coming days. Tomorrow's Agni level is at 5542.

Wednesday, July 27, 2011

Nifty closes @ 5547


Today(27-7-11)Nifty opened at 5592 with a gain of 17 points, moved down to 5522 and closed at 5547 with a loss of 28 points. Nifty futures range was 5589 -> 5518, having a difference of 71 points. Tomorrow being F&O settlement day Nifty may be highly volatile and may move down to 5500 levels. Tomorrow's Agni level is at 5625

Tuesday, July 26, 2011

RBI raises repo rate by 50 bps to 8%


RBI’s First Quarter Review 2011-12 - 26th July, 2011
In the backdrop of higher inflationary pressures, global economic uncertainty, higher commodity prices, RBI continued its monetary tightening measures. RBI raised repo rate by 50 bps to 8% which was more than the expectations of 25 bps. Reverse repo rate under the LAF, determined with a spread of 100 basis points below the repo rate, automatically adjusts to 7% & CRR has been retained at 6%.
On hearing the RBI rate hike announcement Nifty dropped 100 points instantaneously. Nifty further declined to 5570 and closed at 5575 with a loss of 105 points. For details see table above. Nifty futures range was 5709 -> 5555, having a difference of 154 points. As Nifty closing is below the Agni level at 5628, Nifty may move further down to 5500 - 5464 (bottom of M2). Tomorrow's Agni level is at 5629.

Monday, July 25, 2011

Nifty moves up to 5700 levels


Today(25-7-11)Nifty opened at 5625 with a loss of 9 points, till 13:00 moved in the range 5617 - 5652, moved up to 5700 and closed at 5680 with a gain of 46 points. Nifty futures range was 5616 - 5710, having a difference of 94 points. As RBI credit policy is due for tomorrow high volatility expected. Tomorrow's Agni level is at 5628.

Sunday, July 24, 2011

Nifty closes again at centre of M2


On Friday(22-7-11)Nifty opened at 5585 with a gain of 43 points, moved a little down to 5567, steadily moved up to 5642(+100 points), declined to 5614 and closed at 5634 (centre of M2) with a gain of 92 points. If Nifty moves above centre of M2(5642), it may move to top of M2(5797), else move down to low of M2(5464). Nifty futures range was 5573 - 5653, having a difference of 80 points. Tomorrow's Agni level is at 5597.

Thursday, July 21, 2011

Nifty moves in a range for further direction


Today(21-11-11)Nifty opened at 5562 with a loss of 5 points, moved in the range 5533 - 5577 and closed at 5542 with a loss of 25 points. Nifty futures range was 5533 - 5586, having a difference of 53 points. Tomorrow's Agni level is at 5563.

Wednesday, July 20, 2011

Nifty moves up to C of M2(5642) & closes @5567


Today's title is a combination of Sunday's & Monday's titles. Today also Nifty's up move terminated at centre of M2(5642) and the closing was exactly same as that of Monday ie. 5567.05. For details see the table above. Nifty futures range was 5659 -> 5554 having a difference of 105 points. As tomorrow's Agni level is at 5583 hold shorts till Nifty moves above Agni level.

Tuesday, July 19, 2011

Nifty closes above 5600


Today(19-7-11)Nifty opened at 5572 with a gain of 5 points, moved in the narrow range 5557 - 5586 till 12:30, moved up to 5628 and closed at 5614 with a gain of 47 points. Nifty Mini futures range was 5564 - 5644, having a difference of 80 points. Nifty futures opened at 5662 almost 100 points above Nifty Mini futures which was an early indication to the direction of Nifty today. Tomorrow's Agni level is at 5597.

Monday, July 18, 2011

Nifty closes @ 5567


Today(18-7-11)Nifty opened at 5584 with a gain of 3 points, moved in the range 5551 - 5597 and closed at 5567 with a loss of 14 points. Nifty futures range was 5560 - 5609, having a difference of 49 points. As tomorrow's Agni level is at 5571 go short unless Nifty moves above it.

Sunday, July 17, 2011

Niftys upmove terminates at centre of M2(5642)


On Friday(15-7-11)Nifty opened at 5611 with a gain of 11 points, moved up to 5632, moved down swiftly to 5563 before 10:30, moved in the narrow range 5565 - 5595 thereafter and closed at 5581 with a loss of 19 points. Nifty futures range was 5564 - 5640, having a difference of 76 points. Unless Nifty moves above centre of M2(5642)no upside can be anticipated. Agni level for tomorrow is at 5529.

Friday, July 15, 2011

Om Namo Sree Padmanabha

Recently, Sree Padmanabha Swamy temple at Thiruvananthapuram caught the attention of the world on reports that the temple cellar holds assets worth billions by way of coins of Roman & Nepoleon era, precious stones and jewelery. It is to be noted that major part of jewelery were ornaments to be decorated Sree Padmanabha Swamy and used on daily, monthly and annual temple rituals. Coins were offerings made by Kings of Travancore who came to pray to their deity daily and offerings made by nearby Kings and dignitaries. One cellar, believed to be not opened for centuries contained the crown known as "Kulasekhara Perumal Kireedom" which was used for crowning ceremony of Travancore Kings. As Travancore Kings never wore the crown except for the ceremony it was kept in the temple itself as a token of surrendering the kingdom to Sree Padmanabha along with jewelery and other items used for the function. The process of taking inventory of Sree Padmanabha swamy temple assets started by the order of Hon'ble Supreme Court of India on a petition filed by a devotee. Hence, the Chief Minister rightly clarified that it does not come under treasure trove act and belongs to temple alone. Some people argue that all findings is to be used for development / kept in a museum to be seen by public etc. forgetting the fact that most of the jewelery are ornaments of Sree Padmanabhaswamy and is to be used for temple rituals. Further, exhibiting all the assets that were kept securely in the cellars of the temple, to general public is not warranted for and may cause loss of precious items. Now itself non-devotees are flocking to the temple just to see the location where it is kept. Corrupt politicians (remember 2G spectrum scam and commonwealth games) hands won't spare it if given a chance to see it.
According to Hindu scriptures & practices deities are living entities(that's why deities are bathed, dressed and fed daily by priests). So, let all the assets be kept as such under more security at the premises of Sree Padmanabhaswamy itself.

Thursday, July 14, 2011

Nifty moves to centre of M2(5642) & closes @5600


Nifty was highly volatile today(14-7-11). After opening at 5572 with a loss of 13 points Nifty moved down to Agni level @ 5542. Then steadily moved up to 5596, paused a little, moved up again to 5654, after 14:30 discarded all gains quickly and moved down to 5582 and closed at 5600 with a gain of 15 points. Nifty futures range was 5546 - 5667, having a difference of 121 points. Tomorrow's Agni level is at 5527 and Nifty is likely to be highly volatile being a full moon day.

Wednesday, July 13, 2011

Nifty closes @5585 with a gain of 59 points.


Today(13-7-11)Nifty opened at 5567 with a gain of 41 points, moved in the range 5555 - 5582 most of the time, moved up to 5596 at the time of closing and closed at 5585 with a gain of 59 points. Nifty futures range was 5550 - 5610, having a difference of 60 points. Nifty closing today is above the Agni level for tomorrow(5542). Three blasts rocked Mumbai's crowded Zaveri Bazar, Opera House and Dadar Kabootarkhana areas on today evening. No comments for tomorrow. Trade according to Agni level indications.

Tuesday, July 12, 2011

Nifty declines to 5500 levels


Today(12-7-11)Nifty opened at 5535 with a loss of 81 points on global cues, moved in the range 5547 - 5580 till 12:30, moved down to 5497 and closed at 5526 with a loss of 90 points. Nifty futures range was 5502 - 5593, having a difference of 91 points. Tomorrow's Agni level is at 5613.

Monday, July 11, 2011

Nifty closes below M2(5642)


Today(11-6-11)Nifty opened at 5653 with a loss of 8 points, moved down to 5602 and closed at 5616 with a loss of 45 points. Nifty futures range was 5605 - 5659, having a difference of 54 points. As Nifty closing is below centre of M2(5642), Nifty may move to bottom of M2(5464). Tomorrow's Agni level is at 5668 and holding of shorts is advisable unless Nifty moves above it.

Sunday, July 10, 2011

Nifty closes below Agni level - go short


On Friday(8-7-11)Nifty opened at 5740 with a gain of 11 points, moved down to Agni level(5692), at 14:40 breached Agni level and moved down to 5651 and closed at 5661 with a loss of 68 points. As Nifty closing is below Agni level, Nifty may move further down to centre of M2(5642) & bottom of M2(5464)in coming days. As Nifty has not completed the up move to top of M2(5797), up move may resume after this down move. Nifty futures range was 5661 - 5760, having a difference of 99 points. As Agni level for tomorrow is 5683 go short unless Nifty moves above it.

Thursday, July 7, 2011

Nifty surges to Surya level @ 5735


Today(7-7-11)Nifty opened at 5644 with a gain of 19 points, moved past Agni level @ 5654 and surged steadily to today's Surya level @ 5735 and closed at 5729 with a gain of 104 points. Today's surge was similar to that of 151 points surge on 24-6-11, both days rise was from "SA" to "MA". Nifty futures range was 5641 -> 5752, having a difference of 111 points. Nifty may move to top of M2(5797). Tomorrow's Agni level is at 5692.

Wednesday, July 6, 2011

Nifty closes flat @ 5625


Today(6-7-11)Nifty opened at 5620 with a loss of 12 points, moved in the range 5611 - 5655 and closed flat at 5625 with a loss of 7 points. Nifty futures range was 5618 - 5668, having a difference of 50 points. Tomorrow's Agni level is at 5654.

Tuesday, July 5, 2011

Nifty closes at 22x (ie. 22 x 256 = 5632)


Today(5-7-11)Nifty opened at 5637 with a loss of 14 points, moved in the negative territory within the range 5612 - 5643 and closed at 22x ie. 5632 with a loss of 19 points. Nifty futures range was 5628 - 5670, having a difference of 42 points. Tomorrow's Agni level is at 5691.

Monday, July 4, 2011

Nifty closes with gains


Today(4-7-11)Nifty opened at 5680 with a gain of 53 points, moved down to 5633 and closed at 5651 with a gain of 24 points. Nifty futures range was 5690 -> 5642, having a difference of 48 points. Tomorrow's Agni level is almost same @ 5717.

Sunday, July 3, 2011

On New Moon day Nifty's 8 day rally fizzles out


On Friday(1-7-11)Nifty opened at 5706 with a gain of 59 points, moved down to 5610 and closed at 5627 with a loss of 20 points. Thus, on New Moon day the 8 day rally ended as anticipated. There is a confusion among traders whether it was a 6 day rally or 8 day rally. The confusion is due to the fact that on 22nd June, 2011 Nifty closed at 5278.30 with a gain of 2.45 points where as Sensex closed at 17550.63 with a loss of 9.67 points. So, for Sensex followers it is only a 6 day rally. Nifty futures range was 5702 -> 5616, having a difference of 86 points. As Agni level for Monday is at 5716 hold shorts unless Nifty moves above it.

Friday, July 1, 2011

Grahanila(planetary positions) on 1st July, 2011


On 1st July, 2011 Sun,Venus and Moon in Gemini, Mercury in Cancer, Saturn in Virgo, Jupiter in Aries and Mars in Taurus. As Sun & Moon is in same Rasi(Gemini)today is a new Moon day.