On Friday(24-2-12) Nifty closed at 5429, in M1(below 5464)with a loss of 54 points. But,the daily average is 5463.65 ie. on the boarder of M1&M2. Nifty and Nifty futures range were 5406 - 5521 and 5456 - 5564 respectively. Nifty futures low of 5456 and Nifty spot low of 5406 reveals that there was a premium of at least 50 points, which is very high and never seen for the last 5 years. On 1st January 2012 post on "Nifty day traders manthra" it was mentioned that premium above 20 points is not normal and actually it is a negative sign.
Since Moon conjuncts with Jupiter on Monday Nifty may be positive, it is likely that that positiveness may not last long. Kamolikav's another worksheet indicates bearishness from 2nd March (as on date figures)onwards. Therefore, avoid longs when Nifty is under Agni level. Agni level for Monday is at 5474.
1 comment:
The accumulation/distribution phase of the past 4 years is concluding now and that is the reason premiums are so high.
Regards
Vinod
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