On Friday(1-7-11)Nifty opened at 5706 with a gain of 59 points, moved down to 5610 and closed at 5627 with a loss of 20 points. Thus, on New Moon day the 8 day rally ended as anticipated. There is a confusion among traders whether it was a 6 day rally or 8 day rally. The confusion is due to the fact that on 22nd June, 2011 Nifty closed at 5278.30 with a gain of 2.45 points where as Sensex closed at 17550.63 with a loss of 9.67 points. So, for Sensex followers it is only a 6 day rally. Nifty futures range was 5702 -> 5616, having a difference of 86 points. As Agni level for Monday is at 5716 hold shorts unless Nifty moves above it.
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