Friday(20-7-12) Nifty closed at 5205 with a loss of 38 points after moving between 5198 - 5239. Nifty futures range was 5206 - 5249, having a difference of 43 points. Last week Nifty remained in the range 5169 - 5258, a sub range of bottom of M1(5123) and centre of M1(5286). However on 18th the average was @ 5196 lowest in July 2012, the day on low of the week 5169 was touched. Next week, since F&O settlement is due Nifty may be volatile and watch for the break of the range mentioned above to move with it. Agni level for Monday is at 5210.
2 comments:
Bala Sir,
Is there any significance in the Agni lever and the actual closing being near by?
Dear Sri Suresh,
General rule is to go short when Nifty is below Agni level and long other wise. If both are very near there is a chance of reversal next day. In such cases a correct decision can be taken comparing Nifty level with 4DMA and EMA10. On Friday 4DMA was at 5212 and EMA10 at 5237.
If time permits please post your opinion on Kondratieff cycle and our 60 year astrological cycle.
Regards
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