Nifty closes at centre of M2(5642)

Today(30-6-11) Nifty opened at 5631 with a gain of 31 points, moved in the narrow range 5606 - 5637 till 15.00, moved up to 5658 during the last half an hour(may be due to short covering being the F&O settlement day) and closed at 5647 with a gain of 47 points, at the middle of M2(5642). Nifty futures range was 5604 - 5654, having a difference of 50 points only. Tomorrow is a crucial day due to the following.
1. Nifty closed below Agni level for the day(5701)
2. Nifty closing is at centre of M2 and in "Ni Sa Ri" area where a reversal is possible
3. July 1 is a New Moon Day where trend reversal can happen. (Tomorrow's partial Solar eclipse is visible at Antarctica only and hence no body may see it)
4. Nifty was closing with gains consecutively for the 8th day. (Last such happening was from March 22 to March 31)
All the above facts warrants caution and Nifty may open positive and move to negative zone later. Tomorrow's Agni level is at 5726.

Nifty closes with gains on 7th consecutive day

Today(29-6-11) Nifty opened at 5581 with a gain of 36 points, moved in the range 5567 - 5609 and closed at 5600 with a gain of 55 points. Nifty futures range was 5564 - 5613, having a difference of 49 points. Tomorrow is the settlement day for F&O June Series and Nifty may be highly volatile. Nifty may move to middle of M2(5642). Agni level for tomorrow is 5701.

Nifty closes with gains on 6th consecutive day

Today(28-6-11)Nifty opened at 5553 with a gain of 26 points, moved up to 5558, moved down to 5496, moved up again to 5548 and closed at 5545 with a gain of 18 points. Nifty futures range was 5492 - 5558, having a difference of 66 points. As Nifty didn't move to "NiSaRi" area (ie. above 5561)today, it may on tomorrow. As Agni level for tomorrow is at 5604, avoid longs if Nifty does not move above it.

Nifty closes in M2

Today(27-6-11)Nifty opened at 5434 with a loss of 37 points, moved up fast to 5532, moved up again to 5553(Surya level 5552), declined to 5517 and closed at 5527 with a gain of 56 points. Nifty futures range was 5444 -> 5559, having a difference of 115 points, in M2. As tomorrow's Agni level is at 5489, Nifty may further move up to 5600 - 5636.

Be greedy when others are fearful - Warren Buffett

"We simply attempt to be fearful when others are greedy and to be greedy when others are fearful - Warren Buffett".
Nifty's 151 points gain on Friday justifies it. On Friday(24-6-11)Nifty opened at 5368 with a gain of 48 points, moved steadily up to 5478 and closed at 5471 with a gain of 151 points, second highest gain during the current year(highest was 189 on 1st March). Incidentally Surya level was 5472. Nifty futures range was 5336 - 5491, having a gain of 155 points. Though Friday's Nifty close is in M2(above 5464), average(5411)is in M1. It is to be seen whether Nifty remains in M2 or not. Tomorrow's Agni level is at 5356.
Note: Nifty futures freak trade @ 5371 on 21-6-11 was an indicative trade (refer that day's post) as doubted.

Nifty closes above 5300

Today(23-6-11)Nifty opened at 5262 with a loss of 16 points, moved further down to 5252, moved up to 5331, moved down to 5296 and closed at 5320 with a gain of 42 points. Nifty futures range was 5263 - 5337, having a difference of 74 points. Nifty futures was on premium till European markets opened, but shifted to discount thereafter. European and American markets are down by 1.5 to 2.00 percentage on concerns about economic slow down. Along with this, diesel & cooking gas price hike meeting scheduled for tomorrow will impact Indian market tomorrow. Tomorrow's Agni level is at 5213.

100 % traders are bearish - how can market fall now? ?

For every trade to take place there must be a buyer and a seller. Further, there must be agreement on price and volume. Yesterday, channels shown the results of surveys conducted by brokers among traders. Hundred percent traders are bearish now. That means there is no buyers. In such a situation market cannot fall / if falls it would be on thin volume.

Nifty closes flat

On Wednesday(22-6-11)Nifty opened at 5311 with a gain of 35 points, moved in the range 5263 - 5300 and closed flat at 5278. Nifty futures range was 5268 - 5312, having a difference of 56 points. Agni level for today is at 5196.

Nifty closes above Agni level

Today(21-6-11)Nifty opened at 5294 with a gain of 36 points, moved in the range 5257 - 5322 and closed at 5276 with a gain of 18 points. As today's Agni level was at 5269, the closing is above Agni level and hence expect upward move. Mini Nifty futures range was 5256 - 5326, having a difference of 70 points. Nifty futures had a freak transaction at the opening @ 5371 which is 100 points above Nifty & Mini Nifty futures.(Whether it's an indicative trade ? don't know.) Tomorrow's Agni level is at 5216.

Nifty moves below centre of M1(5286)

Today(20-6-11)Nifty opened at 5377 with a gain of 11 points, slowly declined below Agni level(5372) & swiftly moved down to 5196, moved up to 5314, again moved down to 5250 and closed at 5258 with a loss of 108 points. Nifty futures range was 5379 -> 5182, having a difference of 197 points. Today's fast down move at around 10 O'clock was totally unexpected and it is attributed to tax relating issues on funds routed via Mauritius. Tomorrow's Agni level is at 5269.

Nifty closes around 21x ( ie. 21x256 = 5376)

On Friday(17-6-11)Nifty opened at 5421 with a gain of 24 points, moved down to 5356 and closed at 5366 with a loss of 31 points. Nifty futures range was 5425 -> 5361, having a difference of 64 points. As Nifty is in "Ni Sa Ri" area on the scale, Nifty may move up to top of M1(5464)next week if it moves above Agni level. Tomorrow's Agni level is at 5372.

Nifty closes below 5400 on repo rate hike by RBI

On the day of Lunar eclipse, European and American markets declined more than one percent. As Asian markets also opened lower, today(16-6-11)Nifty opened at 5404 with a loss of 44 points, exhibited high volatility and closed at 5397 with a loss of 51 points. After announcement of 25 basis points repo rate hike by RBI, Nifty moved 40 points up and down twice and declined further below 5400. Nifty futures range was 5393 - 5459, having a difference of 66 points. Tomorrow's Agni level is at 5413.

Nifty closes in M1

Today(15-6-11)Nifty opened at 5491 with a loss of 10 points, moved slightly up to 5499, moved down to 5439 and closed at 5448 with a loss of 53 points, in M1((Shudha Madhyamam - Bottom : 5123, Middle : 5286, Top: 5464)area. Nifty futures range was 5505 -> 5438, having a difference of 67 points. Lunar eclipse today and RBI credit review tomorrow. Nifty may move to middle of M1(5286). Go short when Nifty moves below tomorrow's Agni level at 5444.

Nifty closes at 5500

Today(14-6-11)Nifty opened at 5508 with a gain of 25 points, moved in the range 5484 - 5520 and closed at 5501 with a gain of 18 points. Nifty futures range was 5496 - 5535, having a difference of 39 points only. Tomorrow's Agni level is at 5472.

Nifty closes flat

Today(13-6-11)Nifty opened at 5450 with a loss of 36 points, moved down to 5437, moved up to 5497 and closed flat at 5583. Nifty futures range was 5438 - 5511, having a difference of 73 points. Though Nifty moved to M1 area it returned and closed in M2. Tomorrow's Agni level is at 5477 and go long if Nifty remains above it.

Nifty moves to low of M2(5464)

On Friday(10-6-11)Nifty opened at 5510 with a loss of 11 points, moved up to 5518 (below the Agni level @ 5525), moved down to 5457 (low of M2 is 5464), moved up to 5492 and closed at 5486 with a loss of 35 points. Nifty futures range was 5450 - 5520, having a difference of 70 points. Nifty may move down to low of M2(5464) and to centre of M1(5286) in coming days. Agni level for tomorrow is at 5507.

FLAT DAY

Today's(9-6-11)Nifty movement can be summarised as Agni level(5520) plus or minus 20 points. Nifty opened at 5534, moved in the range 5502 -5540 and closed flat at 5521 with a loss of 6 points. Nifty futures range was 5493 - 5544, having a difference of 51 points. Tomorrow's Agni level is at 5525 and take long positions only if Nifty moves above it.

Nifty closes below Agni level

Today(8-6-11)Nifty opened & closed at 5527 with a loss of 29 points(third day wonder). In between Nifty moved from 5515 to 5557. Nifty futures range was 5511 - 5559, having a difference of 48 points only. Tomorrow's Agni level is at 5520 and opening and closing figure relation may snap. Go short if Nifty remains below Agni level.

Nifty close above tomorrow's Agni level

Today(7-6-11)Nifty opened at 5508 with a loss of 24 points and closed at 5556 with a gain of 24 points(similar to yesterday's 15 points). In between Nifty moved from 5508 to 5570. Nifty futures range was 5509 - 5578, having a difference of 69 points. As tomorrow's Agni level is at 5535, Nifty may move towards middle of M2(5642).

Nifty closes in green with 15 points gain

Today(6-6-11)Nifty opened at 5502 with a loss of 15 points and closed at 5532 with a gain of 15 points. In between Nifty moved from 5480 to 5542 ie. 62 points. But Nifty futures range was 5475 - 5547, having a difference of 72 points. Tomorrow's Agni level is at 5570.

Nifty near 5500 level

On Friday(3-6-11)Nifty opened at 5568 with a gain of 18 points, moved up to 5605, moved down to 5507 and closed at 5517 with a loss of 33 points. Nifty futures range was 5509 - 5609, having a difference of 100 points. As tomorrow's Agni level is at 5616 Nifty may move down to bottom of M2(5464).

Nifty closes below Agni level

Today(2-6-11)on global cues, Nifty opened at 5522 with a loss of 70 points, moved in the narrow range 5538 - 5568 and closed at 5550 with a loss of 42 points. Nifty futures range was 5531 - 5577, having a difference of 46 points. Tomorrow's Agni level is at 5628.

Nifty closes @ 5592, below tomorrow's Agni level

Today(1-6-11)Nifty opened at 5580 with a gain of 20 points, moved up to 5596, declined to 5559 & moved in the narrow range 5566 - 5582 up to 14:25, moved to 5597 and closed at 5592 with a gain of 32 points. Nifty futures range was 5546 - 5594, having a difference of 48 points. As Agni level for tomorrow is at 5626, exit longs and go short if Nifty remains below that level.