Today(19-3-13) RBI in its mid-quarter policy review, slashed REPO rate by 25 bps(from 7.75% to 7.50%), in line with market expectations. Just when market started to move up Dravida Munnetra Kazhagam (DMK) chief M Karunanidhi spooked the stock market by anouncing DMK's pull out from UPA resulting in Nifty collapse of more than 100 points. Though Nifty recovered 50 points from the day's low of 5724, it could not sustain that level and closed at 5746 with a loss of 89 points. Nifty futures range was 5869 -> 5737, having a difference of 132 points. As Nifty has declined to M2 it may move to centre of M2(5642) in coming week. Agni level for tomorrow is at 5789.
13 comments:
is it almost certain Nifty will touch level of 5642???...by Friday EOD most probably
Could u post agni levels for the bank nifty as well?
Dear Priya Mehta,
Sorry, as Nandi is not following Bank Nifty it is not possible. Nandi is trying to reduce his work load, not the otherway.
If you want please go through the comments on post dated 16th March 2013(Saturday), down load the XL file mentioned therein and replace Nifty figures with BankNifty figures. You will definitely get the AGNi level for Bank Nifty.
Best wishes
Dear Sir,
Is it possible to calculate Agni levels for scrips also using the same xls file ?
Dear Priya Mehta,
It is also possible to work out on scrips also. But, don't know how much practical it will be, due to various factors. So, it would be better to avoid that excercise.
Best wishes
Dear Jonak,
Today's Nifty low is 5647.95, ie. anticipated figure almost reached. It is possible that we can see 5642 itself tomorrow, as you said.
Best wiwhes
Dear Nandi!
Good evening
Kindly requested to clarify following
1] Mkt opened above day pivot and within first 15 min moved above AGNI. As rule says no short above AGNI i closed all shorts and went long.
2] It stopped out @ 5692 , shorted @ this level with SAR 20 pts. again stopped out above day pivot 5706 @ 5712
3] Reversed position @ 5712 , took long this trend moved well but ended in loss again as I trade swingtrades. it di not gave =50 pts fr entry it hit my SAR @ 5692.
4] once again took short @ 5692 but this too hit 20 pts initial sl
In all totality it hit my 5 sls in a day bsed on AGNI with SAR of 20 pts..eventually stopped trading and ended up with nil position
Now my question is was this trading correct based on AGNI or should have avoided all longs since we were trading below 4dma & 10 EMA
On such day how you would have trade?
Your valued insight will help me to understand the system correct way
Looking forward to your valued response
Thanking you & Best Regards,
Atharva
Dear Priya, Stockscan
It is so difficult to practically trade one instrument unless you have min 5 yrs experience of trading one instrument with single system. And if you have that you would not be asking this?.forget about the other scrips ..Still if you feel it will be of great help for academic interest; I have BN, LT, SBIN, INFY AGNI levels ready file till today..
I am yet to master it on NS if anybody still wants it , If Mr. Nandi permits I will share those files
Goodnight
Atharva
Dear Atharva,
Hope you are following the method described in the post dated 1-1-13.
As Nifty didn't cross neither 4DMA nor EMA10 there is no trade in earlier positions. So, don't know why you closed all your shorts.
Today there was scope for day trade only. As Nifty moved 5706-5729-5761 first two cases we will loose. But, when Nifty moved to 5745-5758 there was opportunity to exit with 35/50 points. Further, when Nifty moved down to 5648 crossing 5700 there was also opportunity for 35/50 points.
Nandi did buy 5600 CE and closed when Nifty moved above 5750. Existing 6000 PE was untouched.
There are umpteen number of methods and all methods are not suitable for every one. Confidence in the system, margin money capability, risk bearing ability etc. will influence our actions. Please find out which is suitable for you and follow it.
There is no objection for giving XL file for scrips to Priya. But, as said earlier Nandi cannot advise upon it as there is no past experience in that cases.
Regards.
Dear Nandi
Good Morning!!
Thanks for reply. 4sma & 10 ema should be given more importance as it shows the measure trend.
Good eye opening yday.. Will keep note of this..
Thanking you & Best Regards
Could someone please email me the excel file...when i try to download, the file contents are empty...thank you
Dear Nandi,
Hi!
Yday AGNI was @ 5622..waited patiently to price come within 8-20 pts range from AGNI.. Took long @ 5637.Closed intra long @ another important level 5680.. Once it broke again 5680 form top;took short..and holding these short partially with part booking @ 5642.
I thank you once again to giving new perception to whole system, When to take intra day trades when to sit tight with position.
Best Regards,
Dear Atharva,
Happy to hear that.
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