Tomorrow Nifty may close below Agni level(5119)

Today(31-5-10)Nifty opened at 5082 with a gain of 15 points, declined to 5039, moved up to 5098 and closed at 5086(near opening level) with a gain of 19 points. Nifty futures range was 5015 - 5072 ( discount increased to more than 30 points). Tomorrow Nifty spot may move to the expected 5100 - 5123 area, while Nifty futures may be in the 5080 - 5100 area. As tomorrow's Agni level is at 5119, it is likely that Nifty may close below the Agni level giving a sell signal.

Nifty may start its down move on Monday

On Friday(24-5-10)Nifty opened at 5062 with a gain of 59 points, moved in the range 5017 - 5077 and closed at 5067 ( around opening level) with a gain of 64 points. Nifty futures range was 4996 - 5055, ie. more than 20 points discount. As Soma - Surya levels has not changed even after 64 points gain in Nifty and NIfty futures is trading in heavy discount, Nifty may start its down move on Monday. If global cues are favorable, Nifty may move to 5100 - 5123 before declining. Monday's Agni level is at 4982.

Nifty closes above 5000

Today(27-5-10) Nifty opened at 4919 with a gain of 2 points, moved downwards up to 4898, was at 4949 around 14.00, thereafter added more than sixty points to reach 5017 and closed at 5003 with a gain of 86 points on averaging. As tomorrow's Agni level is at 4909, Nifty may move up further towards top of Anthara Gandharam(5123).

NIFTY - Monday to Wednesday positions

Due to non availability of internet access many figures could not be worked out and blog updated. As it is resolved now, Monday to Wednesday positions of NIfty is posted. Will try to update the post at the earliest.

Nifty down move terminated at Soma level

On Friday, Nifty opened at 4842 with a loss of 106 points after the heavy selling (3 to 4 percent)in US, European and Asian markets. Till 12.40 Nifty moved upwards up to 4934 (loss reduced to 14 points), declined to 4880, again moved up to 4943(recovery of 101 points)and closed at 4931 with a loss of 17 points. The Nifty futures range was 4851 - 4944. The Soma level for the day also was at 4851. Tomorrow's Agni level is at 4869, which is below the Friday closing and hence Nifty may move up. This up move may be limited to top of Anthara Gandharam (ie. 5123)

Last two days comments still valid

Today(20-5-10)Nifty opened at 4967 with a gain of 47 points, moved in the range 4926 - 4980 and closed at 4948 with a gain of 28 points. Tomorrow's Agni level is at 4898.
There is no further comments other than what is told on 18th(Tuesday) and 19th(Wednesday).

Nifty may move to low of Anthara Gandharam(4859)

On global cues, Nifty today(19-5-10)opened below Agni level(5061)at 4995 with a loss of 71 points, held 4990 level up to 13.20, declined to 4908 and closed at 4920 with a loss of 146 points. Nifty futures range was 5020 - 4901, a difference of 119 points. Today's Nifty move also matches to the May 2008 decline (see the table below). Tomorrow Nifty may decline to low of Anthara Gandharam(4859)and perhaps move to Gandhararam range(High:4859, Centre:4759, & Low:4611). Tomorrow's Agni level is at 4938 which is to be considered as a stop loss.