Today(14-8-12) Nifty opened at 5343 with a loss of 5 points, moved in the range 5330 - 5356 up to 12:00, moved up to 5387 thereafter and closed at 5380 ( @ 21x ie. 21 x 256 = 5376) with a gain of 32 points. Nifty closed @21x last on 15th March 2012. Nifty futures range was 5356 - 5417, having a difference of 61 points. Premium was very high between 20 to 30 points through out the day. Though European and US markets were in red yesterday on the eve of Moon-Venus conjunction, its effect was not transmitted to Nifty as expected in Grahanila post, may be due to DOW's recovery from -90 to - 39. Thursday's Agni level is at 5368.
Note: due to time constraints, it may not be possible to post daily updates after Independence Day. Regret the inconvenience.
6 comments:
Sir,
I find your blog quite interesting and insightful.
Would surely miss daily updates.
Can you please tell me the reason behind 21*256 and their relevance.
Regards
Jitender Kumar4
Dear Jitenderji,
256 is the basic figure in carnatic music scale and 5376 is 21 times of it. In computer also 256 has much importance. 256k was the memory size when PC was introduced in 1980's. Memory size now is in MB's and MB is 4 times of 256.
Dear Nandy
Greetings!!
Closed Short which were holding since last 2 days opened @ 5339 with loss of 24 pts;as y'day agni level was @ 5363.
Hope the trade done was as per the guidelines.
Holding longs as per level bought @ 5371..
Will miss the regular agni levels if it will not updated day to day basis. Unfortunately will have to stop trading based on agni levels if not posted regularly.
I am keen to take swing trades on basis of agni levels
Thanking you & Best REgards
Dear Atharva,
Same thing happened to Nandi also. Shorted MinNifty at 5345 on 9th and covered it at 5370 on 14th with loss. Though Nifty futures low were 5320, 5327 on 10th & 13th waited for 50 points which didn't materialise. Be happy that we don't loose much.
You can calculate Agni level yourself and continue trading based on it. Down load link is http://www.4shared.com/office/90K6BL3_/KIndicator.html
If you are a day trader use day traders manthra and if positional to be on safer side use 4DMA or EMA10 which is given in the file given above.
Best Wishes
B
Dear Nandi,
Thanks for link.I have downloaded the file.
Being holiday on next couple of days will study it; just had a look at it.Did not understand much at first glance however will check out each shit in detail.
Trust, you will keep supporting till I completely understand the concept and calculation to derive Agni level.
As usual looking forward to have plenty of answers from you
Best Regards
Your's truly
Dear Atharva,
The comments and reply given 12th February, 2012 is given below which is valid now
"Dear Shri Jonak,
Your hunch must have some base, may be oversold positions. But, timing the market correctly is very very difficult. It is easier to follow trend lines such as Agni level, 4DMA, E10 etc.
Dear Kesav,
Don't know whether you have down loaded "KIndicator" XLfile. Otherwise download it and put arbitrary values for next day close so that trend(C5B) becomes zero. That value is Agni level.
February 12, 2012 5:00 PM
Nandi said...
Nifty moving down to "5328" again can be considered as a warning.
February 12, 2012 5:07 PM"
For calculating Agni level, 1st worksheet alone is required. Put arbitrary values for next day close so that trend(C5B) becomes zero. That value is Agni level. Before doing that collect Nifty closing values for the gap period and enter it.
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