Friday, January 31, 2014

Nifty during January 2014

Though Nifty remained in Madhysthayi(midle level) of D1 up to 24th January 2014, it declined to Tharasthayi(upper level) of P at the end of the month. Nifty may move at least to the centre of P(5952).

Today, the Friday, 31st January 2014 is an unique day as Chinese New Year(year of the Horse) begins and both the conditions of Exceptional Friday (first Friday after the F&O expiry & Friday following continuous four days close in red)satisfies. This is the first time after Nandi had started observing (2008) its effect, both the conditions fulfiled in a single Friday. Beginning of Chinese year on this particular Friday makes it unique. But, the exceptional Friday effect(50 to 100 points upmove from the low) was totally missing which indicates that market is having some constraint to move up. Today was a highly volatile day with Nifty range 6067 - 6098 and green closing at 6090. Nifty futures range was 6090 - 6135.

No comments: