Thursday, June 21, 2012

Nifty closes at 5165, in M1( above 5123)

Today(21-6-12),the day of Summer solstice, Nifty opened at 5097 with a loss of 24 points, remained in the range 5093 - 5123 up to 14:00, surged thereafter to 5170 and closed at 5165, in M1 with a gain of 44 points. On Sunday (17th June) it was said "Entering M1(average > 5123) and remaining for two/three days there may pave way for Nifty to move to centre of M1(5286). As there is Moon-Venus conjunction on Monday the chances for that is remote." Yes, that didn't happen on Monday. Today the daily average is 5131.93 and hence Nifty entering M1 confirmed. But, the remaining part is also to be completed to enable Nifty to move to centre of M1(5286). Let us wait and see. Nifty futures range was 5092 - 5179, having a difference of 87 points. Tomorrow's Agni level is at 5127.

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