On Friday(24-9-10)Nifty opened at 5951 with a loss of 5 points,quickly moved to positive zone and stayed in the range 5967 - 5988 up to 12.00, moved upward to 6029 and closed at 6018 with a gain of 62 points. Nifty futures range was 5961 -> 6044. As Nifty didn't decline below the centre of P(5952)and closed above that level on Friday, Nifty may move to top of P(6154) in coming days. Nifty moving above that level and entering D1(Sudha Daivatham; Low : 6154, centre: 6355 {Nifty all time high}& Top: 6526)before Deepavali cannot be ruled out. Since Nifty P/E is @ 25.41 ordinary retail investors may please avoid fresh buying. Agni level for Monday is at 6048 and Nifty may move above that level.
No comments:
Post a Comment