M1(Sudha Madhyamam)range is 5123(bottom) - 5286(middle) - 5464(top) and Nifty moved exactly to these levels during the last three days. Nifty closing on Monday was 5477(Friday 5472), yesterday closing was 5287 and today(28-8-13) after moving down to 5119 closed at 5285 again. So, it is clear that Nifty knows carnatic music perfectly. Todays Nifty moves has resemblence to its moves on 5th August 2011 as can be seen below:
Sree Krishna Jayanthi(Astami Rohini) day Nifty moved like "Uri"(hanging earthern pot pulled up and down while children try to hit it - a favorite game on Krishnastami day) and swung 367 points (168 + 199). Nifty futures range was 5319 - 5108 having a difference of 211 points. Expect a part of it tomorrow also being the F&O settlement day.
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