Tuesday, September 29, 2009
Nifty opened & stayed above Agni level
Though Nifty opened today (29-9-09)at 5017 with a gain of 58 points, the highest was 5020 only(10.14). There after it moved in a very narrow range from 4990 to 5015 and closed at 5007 with a gain of 48 points. Thus today Nifty stayed above Agni level, even though strength was lacking. Nifty futures range was the lowest today from 4984 to 5020, having a difference of 36 points only. Tomorrow's Agni level is at 4978 and Nifty may stay above that tomorrow also. As Nifty futures was 3 to 8 points discount through out the day, buying cannot be recommended.
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3 comments:
Nifty crossed your High level.. 4th is full moon day... what's your prediction, nifty may touch new high or else reverse from here?
Thanks in advance.
Regards
Dear Sujatha,
Yes, Nifty crossed today's Soma level at 5073 and gone to 5088. Tomorrow's Soma level is at 5158 and hence Nifty may move to 5120 plus. As full moon is on Sunday the 4th October a trend reversal can occur around this date.
Dear respected nandi
your guidence about the markets are really helpful and i really thank you from the bottom of my heart. i am a positional trader in nifty and request you to throw some light on positional nifty whether longs or shorts should be carried over on daily post.
please help us by giving your view on positional nifty also
thanking you
naresh k c
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