Sunday, April 7, 2013

Nifty closes at 5555


On Friday(5-4-13) Nifty closed at 5553( ie. 5555 - 11th figure in the table posted on 1st Januray, 2013). Nifty and Nifty futures ranges were 5535 - 5577 and 5553 - 5594 respectively. The closing figure 5553 has two other connections - it's near the daily average @ 5556 and exactly at the centre of the lower part of M2( 5464 + (5642-5464)/2 ). Therefore, Nifty closing is at a very important point and further downward move may take it to 5464 in the week ahead. Agni level for Monday is at 5590.

Though the down move was expected in the second week of April it started in the first week itself - may be FIIs seeing the Grahanila post became nervous and started to sell.

2 comments:

Guru said...

Hello Nandi,

Hope your doing good. BTW thanks for the update on Grahnila.

I have a doubt, If developing AGNI level (That is: if tommorrow's AGNI is XYZ and today's closing is lesser than today's AGNI level but greater than Tommorrow's AGNI level.)in that case can we take long at EOD or Should we take only looking at tommorrow's EOD?

Please Clarify.

Thanks

Nandi said...

Dear Guru,
Every thing has its own time! As you are certain that Nifty will be above the Agni level tomorrow, you can book profits today. But, going long is a different thing.
Are you a day trader ? then follow day traders manthra. If you are a positional trader, wait until Nifty moves above 4DMA & E10.
Hope, it's clear now.