Down movement to Shadjam level started !!!

Up to 12.30 p.m. today (17-6-09) Nifty slowly moved up from 4466 to 4518 (yesterday closing level ie. loss - Nil) and it seemed a positive closing is on the anvil. Then selling started and Nifty started to plunge. Selling followed and by 15.30 Nifty slipped down to 4333 (loss of 185 points from yesterday closing),and after averaging closed at 4356 with a loss of 162 points. 100 points loss came from 14.15 to 15.30. The fall was similar to the fall on Monday the 8th June,2009, the day on which Nifty closed with a loss of 157 points. It is felt that today's fall is the beginning of the correction that may take Nifty to the Shadjam area 4100-3800 as mentioned earlier or below that level.

Today's high of 4518 did not generate a buy signal as Agni level today was at 4532. Tomorrow's Agni level also plunged to 4391 as also Soma-Surya levels. That means large players in the market has started to cope up with the fall in the market. Now it is a sell only market, sell at every rise. Watch Agni level and trade accordingly.

Under the caption "Yada Yada Hi Dharmassya" Nandi had mentioned that in Nifty future day trading (not positional; positional should be based on Agni level only) 8/16 points reversal may be taken as trend reversal. After so many days observations it is seen that 20/24 points are the correct one. 20 points for buy/sell from the bottom/top and 24 points Stop Loss. Move the stop loss towards the direction of the market when Nifty future moves 20 points plus so that the gain is protected(but always remember that Stop Loss should have 24 points difference from the high or low achieved so far). If net connection is available in the trading hours you can confirm your position by checking "http://truedataindia.com/ page.php?p=15". Today's Nifty future low in the morning was 4467 and Nandi bought MiniNifty when Nifty future moved up from 4488. It went up to 4523, started to coming down, Nandi put a stop loss at 4499 and it hit. Actually it was a sell at 4503 (4523-20=4503)which Nandi didn't attempt since the fall as witnessed was not expected today. Correct way is just move with the market by checking whether earlier upper/lower level is breaking. The difference in a day between upper and lower levels in Nifty futures generally may vary from 64 to 192 points.