On global cues, Nifty today(19-5-10)opened below Agni level(5061)at 4995 with a loss of 71 points, held 4990 level up to 13.20, declined to 4908 and closed at 4920 with a loss of 146 points. Nifty futures range was 5020 - 4901, a difference of 119 points. Today's Nifty move also matches to the May 2008 decline (see the table below). Tomorrow Nifty may decline to low of Anthara Gandharam(4859)and perhaps move to Gandhararam range(High:4859, Centre:4759, & Low:4611). Tomorrow's Agni level is at 4938 which is to be considered as a stop loss.
2 comments:
Sir,
Whether 2008 drama will be repeated with oct lows
Thanks
Bala
Dear Shri Bala,
At present Nifty is in a rounding top formation. If that continues the possibilities are there. Shri Gautam Bajaj(http://www.when2buy.blogspot.com/)gives a target of 3800 - 4200 in October 2010, if Nifty closes below 4670.
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