Nifty again closes near Chat. Rishabham centre point

"For the period up to 27th Aug, above 4500 is a tough task as 43 lakhs call outstanding is there at present. Nifty may move above 4611 in to Gandharam after that, but above 4731 is difficult up to October 2009 as PE Ratio will be above 21 when selling will come in. Similarly if Dollar price moves above 49.00 then also be careful. Therefore, expecting a down ward move soon after this months F&O settlement will be a most logical conclusion." This is a reply given to a query to one of the visitors yesterday (refer comments under the post dated 18th August for the query)and Today's (20-8-09) Nifty movement just confirms the above view. Nifty opened gap up at 4476 and moved in a very narrow range of 4462 - 4484 till 13.00, then down to 4452, up to 4493 at 14.30 and again down to 4450 and close at 4453. Till 14.30 Nifty futures range was 4490-4442 (just 48 points difference) and only after 14.30 the range widened to 4504 - 4440, a difference of 64 points which is divisible by 8. At closing the open interest in 4500 call is at 50 lakhs, 4400 put is at 46 lakhs and 4300 put is 60 lakhs.

Nifty down to lower boarder of Chatustruti Rishabham

Contrary to expectation of an up move, Nifty today (19-8-09) opened with 4 points loss, moved up to 4478 (10.25) and traversed downwards to the lower boarder of Chatusruti Rishabham at 4353(12.18), a loss of 106 points. After that it oscillated between 4380 - 4425 and closed the day at 4394 with a loss of 65 points. Today's low was 6 points lower than the latest low of last Wednesday (12th Aug), but did not breach Chatusruti Rishabham band width. As tomorrow's Agni level is at 4402, Soma Surya levels is staying at the same levels of yesterday and 21st August is a new moon day which in majority occasions beneficial to the market, it is definitely a buy if Nifty trades above the Agni level.

Nifty closes at centre point of Chatusruti Rishabham

Today (18-8-09) Nifty opened at 4373 with a loss of 15 points, moving up and down without breaching the initial low up to 10.20 moved upwards to 4491(gain of 103 points)at 13.06. There after Nifty moved within a triangle and closed at 4459 with a gain of 71 points. As tomorrow's Soma level is at 4571 Nifty may move up passing 4500 level. Nifty for the last one month is swinging in the range 4348 - 4464 - 4611 (Chatustruti Rishabham)and 4611 - 4759 (Gandharam low & centre).
During this period it can be presumed that Nifty chanted three names of Lord Shiva namely Vishweshwara (വിശ്വേശ്വര),Vaamadeva(വാമദേവ)and Bhoothapathi(ഭൂതപതി) as per music scale conversion of figures 4442, 4584 and 4616 in to alphabets. Many devotees of Lord Shiva arrive in this blog by searching for thousand names of Lord Shiva. Lord Shiva's Thousand names (Shiva Sahasra Namavaly) and 108 names(Shiva Astothara Satha Namavaly) is posted in my Malayalam blog "vipanisangeetham.blogspot.com".

Nifty closes below Agni level - 192 points loss

From 5th August, 2009 onwards Nandi was expressing concern over the Nifty positioning and cautioned visitors of the impending crash. That is why "Nifty above Agni level - Even then don't buy" was advised - the massive gap down opening was expected in the last week itself, where exit will be impossible without loss as of today. Today (17-8-09) Nifty opened with a loss of 90 points at 4490 and the loss increased steadily till 15.20, touched low of 4374 and thereafter closed the day at 4388 with a loss of 192 points. Nifty futures low touched the Surya level at 4357. Tomorrow's Agni level is at 4521 and don't make any buy when ever Nifty is below the Agni level.

Nifty's Friday low is the Agni level for tomorrow

On Friday (14-8-09) Nifty spot moved in a very narrow range of 4619 - 4559 and Nifty futures 4611 - 4552 (just 59 points difference and that is the lowest after 7th May,2009). Nifty oscillated between +14 and -36 and closed the day at 4580 with a loss of 25 points. If Nifty is unable to go up and close in Gandharam (above 4611)next week, down ward movement may continue in coming days. Tomorrow's Agni level is at 4558 and that is the low of Nifty spot on Friday. If it breaks, exit all longs and go short.

Nifty may not go beyond Gandharam

Nifty today (13-8-09) opened at 4547 with a gain of 89 points and later added 50 plus points before closing at 4605 with a gain of 147 points. As you might have already noted, Nifty in most of the days stayed in Chatusruti Rishabham (low: 4348, centre: 4464, high: 4611) after 17th July, 2009. However, during this period, once it moved to Gandharam (low: 4611, Centre: 4759, high: 4859)and the high was 4731. Therefore it seems that Nifty may not go beyond the centre of Gandharam (4759) for the time being and may reverse its direction once it is in Gandharam ( above 4611). So, be cautious.

Nifty bounces back after touching SuryaAgni levels

Today (12-8-09) Nifty moved in a U shape. Opening with a loss of 65 points at 4406 it slightly moved up to 4440 (10.30), steadily declined to Agni level at 4361 / Surya level at 4359 (13.00), thereafter retraced almost all losses and was at centre point of Chatusruti Rishabham (4465) at 15.30. On averaging Nifty closed the day at 4458 with a loss of just 13 points. The pull back was really impressive considering the fact that Nifty could recover 100 points from the day's low at 4359 (loss of 112 points). It is probable that Nifty may continue its up move tomorrow till next bout of selling starts, may be above 4500. Today FIIs net sell was at 504.99 crores.