On Friday(18-5-12)Nifty opened at 4796 with a loss of 74 points, moved further down to 4789, moved up steadily and closed at 4891 with a gain of 21 points. Incidentally 4789 was the freak trade figure at Sgx Nifty on 14th May 2012(refer "Freak trades or Signals ? - continued" post at vfmdirect forum). Nifty and Nifty futures ranges were 4789 - 4909 and 4767 - 4906 respectively. On 14th May 2012 post it was said that Nifty may move to centre of G1(4759) which is just 30 points below the Friday low. As Monday's Agni level is at 4861 hold on longs only if Nifty remains above it. Another down move expected within two days.
There is a Solar eclipse before Sunrise tomorrow, which is visible North - Eastern parts of India only.
2 comments:
why do u expect downmove...is it because of solar eclipse..
Dear Jonak,
Grahanila chart on 1st May, 2012 says
"22-5-12 - SUN IN TAURUS(1:7:20°)&MOON(1:18:35°) &VENUS(1:29:8°) CONJUNCTION."
Since the conjunction is almost 11 degrees after Sunrise down move can be in the afternoon or next day.
BTW, today Sgx Nifty June series low is 4504.50. Be cautious. Petrol price hike is still pending
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