Nifty below Agni level & in Sudha Rishabham

As anticipated Nifty today(30-6-09)opened at 4427 and steadily declined and at 15.15 it was at 4267. Then it climbed to 4306 and closed the day at 4291 with a loss of 100 points. Now Nifty is in Sudha Rishabham and below the Agni level for tomorrow at 4365. Further slide down is expected. Moving down below 4100 (Shadjam area)will take it to 3790(Shadjam lower boarder) and may be further down.

Nifty closes flat - Agni level rises to 4382

Today(29-6-09) Nifty closed at 4391 just 15 points above yesterday closing. Nifty opened at 4386, moved down to 4358, then moved up to 4440 and from 14.45 slumped to 4376 discarding entire gains made today and was near that level at 15.30 (closing was improved due to averaging). Hence, Nifty is likely to move down further tomorrow. Agni level for tomorrow is at 4382 and when Nifty moves below that level, exit all longs and shift to short.

Exceptional Friday Effect - Nifty in Chatu. Rishabham

Today(26-6-09)Nifty climbed 142 plus points compared to 151 plus points on the last similar Exceptional Friday on 29-5-09 and closed the day at 4376 with a gain of 134 points. {New visitors may note that "Exceptional Friday" is the Friday that comes after F&O settlement(No.1) and Friday that comes after three or four days continuous decline(No.2)}. Nifty opened at 4296 with a gain of 54 points, declined to 4255 and steadily moved up from 12.00 p.m. and reached 4384 at 15.15 (gain of 142 points) before closing at 4376 in Chatusruti Rishabham band width. Hope, the visitors of Vipani Sangeetham had noted the significance of "Exceptional Fridays" and utilised it beneficially.

Vipani Sangeetham expresses deep sorrow on the passing away of the greatest pop musical legend, world ever seen Michael Jackson in the early hours of today and believes that his name will live through till the world lasts, through his musical videos and albums. However, world misses him at this early age of 50. Musical World was eagerly awaiting for his European tour which has been scheduled for next month. May his soul rest in peace.

Nifty at closing time compared to opening is at same level

Today (24-6-09) Nifty opened at 4284 with a gain of 37 points, after moving down to 4218 and upwards up to 4307, at 15.30 it was at 4287 (just near the opening level). On averaging Nifty closed the day at 4293. Tomorrow being settlement day for June series derivatives, volatility can be expected in the range 4325 - 4230. Today's high was 4307 against the high of 4305 on 24th June,2008.(Yesterday Nandi mentioned the low only).

Nifty recovers and closes flat

As expected, at the opening today (23-6-09)Nifty plunged to 4143 and till 12.30 p.m. moved between 4161 and 4203. After 12.30 Nifty surged and at 15.00 it was at 4267. Then came the selling which dragged Nifty to 4227 at 15.30. Today's Nifty close is at 4247 with a gain of 12 points(Technically only due to averaging. If the position at 15.30 is to be taken it is at 4227 with a loss of 8 points). Yesterday and today Nifty's maximum plus points and minus points were almost same, but direction reversed. Nifty's maximum loss points yesterday and today were same at 92 points(-92)and gain points were 38 and 32 respectively.

Low of Nifty futures yesterday and today were 4225 and 4155 where as Nifty spot low on 23rd June 2008 and 24th June 2008 were 4225 and 4156 respectively. What a correlation !!!. Following that pattern Nifty may go down to 4093 tomorrow if today morning's situation prevails tomorrow. Let us see.

Last Friday's up move fizzles out

Unable to move to Chatusruti Rishabham band width (above 4348) Nifty today (22-6-09) moved down to 4222 and closed at 4235,near Sudha Rishabham centre point (4232). As lower level of Sudha Risbhabham is at 4100, Nifty may move to 4150-4100 area tomorrow. Friday's last hour up move of more than 100 points to the 4320 area and closing at 4314 gave an impression that Nifty may cross 4350 area today. But it didn't. Hence, the view expressed on 21st June is invalidated and earlier view holds good. It will be interesting to note that the low on 23-6-08 was 4225.50 where as today's is 4221.90. Nifty low on 24-6-08 and 25-6-08 were 4156.10 and 4093.20 respectively. Let us see where it ends this time.

Exceptional Friday Effect came in last hour

Till 14.40 on last Friday (19-6-09) Nifty was at 4216. After that creating a giraffe like image in Nifty chart it soared to 4326 before closing at 4314 with a gain of 63 points. This up move may continue for a few days, may be up to the end of the week. Watch Agni level and trade accordingly.