Today (13-9-10)Nifty opened at 5709 with a gain of 69 points, moved steadily up to 5771 and closed at 5760 with a gain of 120 points. Nifty close is the highest after 18th January 2008 and PE is @ 24.32 which is beyond expectation. Nifty futures started with a discount of 30 points and ended with a premium of 6 points - 36 points upward move, definitely due to short covering. Nifty futures range was 5672 - 5777, having a difference of 105 points. Normally, when Agni level is above the Nifty, Nifty moves down dragging the Agni level and within a couple of days Agni level is pushed below the Nifty. But, this time Nifty moved up fast and took position above Agni level, which is a very rare event. Tomorrow Nifty may move to high of M2(5797) and Agni level is at 5753.
1 comment:
I guess NIFTY will hit 6000, even break all time highs by diwali, the correction is due and september series expiry might me around 5500 odd level so be cautious at higher levels
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