Nifty's Friday low is the Agni level for tomorrow

On Friday (14-8-09) Nifty spot moved in a very narrow range of 4619 - 4559 and Nifty futures 4611 - 4552 (just 59 points difference and that is the lowest after 7th May,2009). Nifty oscillated between +14 and -36 and closed the day at 4580 with a loss of 25 points. If Nifty is unable to go up and close in Gandharam (above 4611)next week, down ward movement may continue in coming days. Tomorrow's Agni level is at 4558 and that is the low of Nifty spot on Friday. If it breaks, exit all longs and go short.