On Friday(25-11-11)Nifty opened at 4710 with a loss of 46 points, moved further down to 4701, moved up to 4767(66 points up move on EFE against the expected 50 - 100 points), moved in the range 4726 - 4762 till 13:50, moved down to 4693 thereafter and closed at 4710 with a loss of 46 points. Nifty futures range was 4689 - 4778, having a difference of 89 points.
Thus, in this week Nifty breached earlier low of 4720 for the year and created a new low of 4639. It is yet to reach the anticipated minimum of 4612 mentioned in the post dated 18th November,2011. However, Nifty closing remained above 4700 level. There was also two positive closings during this week as expected in the post dated 20th Nov 2011. Whether Nifty may move to sub 4612 level or move a little up before that is to be seen during next week. Agni level for Monday is at 4660.
2 comments:
the move from 4628 looks like a zigzag, internals of zigzag should have 5-3-5 waves. As of now we have done with a 5 wave and a 3 wave. so expect a 5 wave upmove to start on monday
http://niftybn.blogspot.com/2011/11/25th-nov-2011-4-pm-post-market-update.html
Whether Nifty may move to sub 4612 level or move a little up before that is to be seen during next week.
thank you very much :)
regards
Post a Comment