On Friday(23-3-12)Nifty closed at 5278, centre of M1 with a gain of 50 points. Nifty and Nifty futures ranges were 5220 - 5312 and 5231 - 5329 respectively. Nifty closing at centre of M1 was occurred recently on 20th March(5275), 5th March(5280) and on 27th February(5281) and has the potential of Nifty moving towards top of M1(5464) or down to bottom of M1(5123). Due to F&O settlement, Nifty may be highly volatile during the week and volatility will be strengthened by Moon-Jupiter-Venus conjunction. While giving Grahanila for March it was anticipated that 26th March may see down fall of 150 points. But, the fall of 137 points on New-Moon day (22nd March) and the positioning of Agni level at 5262 (below Nifty closing) makes it difficult to confirm. So, go short only if Nifty moves below Agni level(5262).
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