Sunday, May 30, 2010

Nifty may start its down move on Monday


On Friday(24-5-10)Nifty opened at 5062 with a gain of 59 points, moved in the range 5017 - 5077 and closed at 5067 ( around opening level) with a gain of 64 points. Nifty futures range was 4996 - 5055, ie. more than 20 points discount. As Soma - Surya levels has not changed even after 64 points gain in Nifty and NIfty futures is trading in heavy discount, Nifty may start its down move on Monday. If global cues are favorable, Nifty may move to 5100 - 5123 before declining. Monday's Agni level is at 4982.

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