Today(23-11-11) Nifty opened at 4780 with a loss of 32 points, moved in the range 4733 - 4758 up to 12:00, moved down wards swiftly breaking this years low of 4720 (as expected) to 4641, moved up to 4716 and closed at 4706 with a loss of 106 points. Nifty futures range was 4775 -> 4632, having a difference of 143 points. Tomorrow's Agni level is at 4652.
Caution: Today's Agni level 4704 was 108 points below yesterday's closing of 4812. Some new visitors fallaciously think that Nifty can be bought at any price if it is above Agni level. It was clarified earlier also that ideal Nifty buy/sell is around 20 points from Agni level, to avoid huge loss if trend reverses. As Agni level is having a bandwidth of 16 points, buy/sell should be effected only after Nifty moves plus/minus eight points from Agni level. Further, it was also advised that "Day trading Manthra" is to be applied. Today's Nifty movement teaches it well.
2 comments:
Hats off to you :) thing is "how to utilise it"??
thanks for ur clarification.
regds
Dear Sujatha,
It requires some work - you should note down the Nifty spot and futures high and low at least 30 minutes interval. The table which is being posted daily is the outcome of that effort. If you follow it "without thinking" ( read Ilangoji's post today)you can make money.
regards
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