Today(18-8-11)though Nifty opened at 5079 with a gain of 22 points, after 9:30 it moved below Agni level(5033) and steadily declined to 4932 and closed at 4944(today's Soma level was 4947), below centre of G2(4960), with a loss of 113 points on Morgan Stanley report "U.S. 'dangerously close' to recession". Nifty futures range was 5076 -> 4926, having a difference of 150 points. As Nifty close is below centre of G2(4960) it may move down to low of G2(4859). As European and US markets are down by 4 - 6 percent now, Nifty may move further down to centre of G1(4759). Thus, expectation of a small bounce back to M1 area didn't materilise. Tomorrow's Agni level is at 4952.
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