On Friday (2-3-12)Nifty closed at 5359.35 and on Saturday (3-3-12) at 5359.40. The special session for one and half hours on Saturday was conducted to test the disaster management facility at NSE. Nifty and Nifty futures range on Friday was 5315 - 5393 and 5351 - 5438 respectively. Agni level for Monday is at 5355.
2 comments:
agni level has moved up ..encouraging for down move ...right
Dear Shri Jonak,
AGNI can be compared with a rubber ball thrown directly upwards in to the air. After moving up a particular distance it STOPS and starts to comeback. AGNI level is being worked out based on the last 5 days Nifty momentum and it indicates the level Nifty would be if same momentum is maintained. If momentum is not maintained, Nifty would be below AGNI level and identifying that loss in momentum we EXIT our longs. If Nifty moves above AGNI level it indicates fresh momentum is added (similar to boosters in AGNI missile or Chandrayan) and we stay long. In downward move also the same thing happens with direction reversed.
From the above it can be seen that AGNI level compared with Nifty position just indicates whether Nifty maintains last 5 days average momentum or not. As such sorry to say that AGNI level neither encourages nor discourages Nifty.
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