Today's (1-7-09) Nifty movement was highly volatile in the range 4250 - 4362. The Nifty position and the relative time are : 4320 (10.00)- 4338 (10.50)- 4250 (11.50) - 4357 (13.00) - 4306 (14.00) - 4362 (14.30)- 4314(15.00) - 4341 (16.00). Nifty high was 4362 just below the Agni level at 4365 and closing was at 4341 below the Agni level. At 14.30 Nifty futures touched the Agni level 4365 and receded. Tomorrow Agni level is at 4401 and as on today Nifty may not cross that level.
As Government of India has hiked petrol prices by Rs.4.00 per liter effective from 12.00 midnight today, it may have an impact on the Nifty opening on tomorrow.
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