Tuesday, December 27, 2011

Nifty closes below Agni level as expected

Today(27-12-11)Nifty opened at 4785 with a gain of 6 points, moved down to 4765, moved up to 4801, moved down again to 4724 and closed at 4751 (below Agni level 4815 as expected) with a loss of 28 points. Nifty futures range was 4725 - 4808, having a difference of 83 points. As Nifty closed below Agni level, trend is down. But, since mutual funds may try to improve their yearly performance by jacking up stock prices at the closing of the year, Nifty may witness an upward move. So, during next three days Nifty may be highly volatile. Agni level for tomorrow is 4821.

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