Monday the Budget day - Nifty will be highly volatile

Friday (3-7-09) Nifty closed at 4424 with a gain of 75 points. Up move came in after 13.40 only (Nifty was at 4341 at that time)and went up to 4434 by 15.00. Being the Budget day, on Monday Nifty will be highly volatile. Risk averse traders stay away for the day after 11.00 a.m. Nifty is likely to move up maximum to 4700 (addition of 38 lakhs calls on Friday)and the low can be 4100 (addition of 13 lakhs puts on Friday). Within one or two days, after reaching the maximum, Nifty may start its downward move as mentioned earlier. Please note that Tuesday the 7th July is a full moon day, the day many large falls took place in earlier occasions. Watch the Agni level and trade accordingly. New visitors to Vipani Sangeetham may please note to avoid any purchases when Nifty is below the Agni level.