Today(8-4-10)Nifty closed at 5304 with a loss of 71 points. Nifty opened with a loss of 16 points, oscillated between 5343 to 5371 up to 12.00 and steadily declined there after up to 5290, as indexes of European markets retreated. It is likely that Nifty may continue its downward move tomorrow at the opening. A recovery thereafter also cannot be ruled out. Tomorrow's Agni level is at 5398.
5 comments:
Sir,
Tomororow will be an exceptional friday?Pls clarify ...if so at which level shall i go for long?...
Thanks sir
By,
Raji
Dear Raji,
Today is not an Exceptional Friday.
It is neither a Friday following F&O settlement nor a Friday that follow negative closing for the last 4 days.
Sir,
Excep., Friday, always F&O closure is thursday. On that Friday, how the nifty will behave if F&O is positive in Thursday , then Friday is -ve like that. Will you please ellaborate this point little more with your experience
Thanks
Hi Bala,
Large players in F&O segment make profit every month by buying stocks and sell Stock futures,Stock options,Nifty options and Nifty futures. For this purpose they require large quantity of stocks which they purchase on the first day of the series. That's why Nifty advances on the Friday that follow the F&O settlement( our Exceptional Friday).
Dear Raji,
Whether your question on Exceptional Friday was seeing "A recovery thereafter also cannot be ruled out." While Nifty close was down by 71 points, European markets were in heavy read and DOW futures was also down a negative opening was anticipated. But Soma-Surya levels didn't reflect that mood. Hence the recovery statement. Satisfied ? And you know what happened today. As DOW closing was in positive negative opening didn't took place.
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