Tuesday, September 8, 2009
Nifty closes the day with 22 points gain.
Today (8-9-09) Nifty completed Sa Ri Ma Ga Pa Da Ni Sa (256 points) in daily scale that started from 4th September,2009. At 4842 (14.00) came profit booking - can it be called as a sell off ? - which pushed down NIfty to 4785, down 57 points. At the closing, Nifty was at 4805 and Nifty PE Ratio was 21.59. Experts are of the opinion that the maximum P/E can be 22 only and above 22 it is a bubble and bubble will not be formed in successive years. That is why Nandi told that Nifty can go to the top of Gandharam at 4859 only. Incidentally today's Soma level was just below that at 4852 and Nifty's high was 4842. As Arohan (upmove) has almost completed avarohan (downmove) may start very soon. Tomorrow's Agni level is at 4788 and you know what to do when Nifty slides below that level.
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5 comments:
Nandi Sir,
Thanks for detail
posting everyday.
Supose we slide
below 4788 Agni
Lvl what should
be stop lossfor
short?
Thanks ones again
Dear Abhishek,
Stop Loss is Agni level itself, but give 8 points grace as all levels are having +or- 8 points width. You can also implement trailing stop loss method with a minimum 20 points gap.
Nandi Sir,
Thanks for clarification.
Nandi Sir,
Good afernoon,
Sir Now nifty @4825 around
3.15 pm closing hour can we understand for tomarow AGNI lvl?if nifty going to close below AGNI lvl we can initiate SHORT trade OR
vice versa.
Thanks.
Dear Abhishek,
As Nandi is watching and trading at a broker's terminal and use computer systems only after trading hours, viewing messages or updating the blog during trading hours is not possible.
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