Friday(30-4-10) Nifty opened at 5287 with a gain of 24 points, moved in a narrow range (unlike any Exceptional Friday) 5266 - 5295 and closed at 5278 with a gain of 24 points, at the centre of Sudha Madhyamam(5286). Nifty futures range was 5252 - 5290 and at the time of closing it was at 16 points discount compared to Nifty spot price. Exceptional Friday effect(50 to 100 points up move) was missing, which warrants caution. Earlier in one occasion it was compensated on following Monday. The Exceptional Friday effect on the next day of F&O settlement is considered to be due to the bulk purchase by FIIs and DIIs for F&O purpose and lack of buying gives a negative signal if it is missing on Monday also. Nifty is poised at the centre of Sudha Madhyamam and it can move to either side next week. Missing of Exceptional Friday effect and heavy discount points to down ward. On 2nd May, Guru(Jupiter)moves to Meenam(Pisces)after four and half months in Kumbham(Aquarius) and it conjuncts with moon on 9th May. Therefore, beginning of May may be crucial and Nifty may terminate its stay in Sudha Madhyamam range. Exit longs when Nifty moves below tomorrow's Agni level at 5241.
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