Nifty closes with gains for the 8th successive day

Today(31-3-11)being the last day of the financial year 2010-11 and settlement day of March series Nifty was highly volatile. Nifty opened at 5826 with a gain of 38 points, moved down to 5803, moved up to 5872, moved down to 5779, moved up again to 5850 and closed at 5834 with a gain of 46 points. Nifty closed with gains for the 8th successive day, which was not seen during the past two years. Though Nifty closed below Agni level for the day(5883), closing is in P (Bottom: 5797, Centre: 5952 and Top:6154) which gives the indication that it may move to centre of P(5952). It may be advisable to keep away from the market till the direction is clear. Nifty futures range was 5783 - 5880, having a difference of 97 points. Tomorrow's Agni level is at 5905.

Nifty closes below Agni level - after 21st March 2011

Today(30-3-11)Nifty opened at 5754 with a gain of 18 points, moved in the range 5767 - 5803 and closed at 5788 with a gain of 52 points. Nifty futures range was 5771 - 5818, having a difference of 47 points. Nifty closing today is below Agni level(5811)- after 21st March, 2011. During the past 7 trading days Nifty added 423 points (on closing basis)and it has moved to top of M2(5797) from M1(below 5464). As Nifty close today is below Agni level for the day and tomorrow's Agni level is at 5883 it is time to exit longs and move to shorts.

Nifty may move to top of M2(5797)

Today(29-3-11)Nifty opened at 5681 with a loss of 6 points, moved up to 5770, moved down to 5730 and closed at 5736 with a gain of 49 points. It is the 6th continuous day Nifty closing in green, after 29th Oct, 2010(5988) to 5th November,2010(6312). Nifty futures range was 5695 - 5788, having a difference of 93 points. Tomorrow Nifty may move to top of M2(5797) and Agni level is at 5811. Avoid shorts till Nifty closes below Agni level.

Nifty closes @ 5687 after touching 5709

Today(28-3-11)Nifty opened at 5667 with a gain of 13 points, moved in the range 5643 - 5709 and closed at 5687 with a gain of 33 points. Nifty futures range was 5664 - 5729, having a difference of 65 points. As tomorrow's Agni level is at 5730 avoid longs if Nifty does not move above 5730.

Warren Buffett's India visit stimulates stock market

International investment icon Mr.Warren Buffett's presence in India has stimulated Indian stock market and Nifty surged around 300 points breaking the range bound move, during the days he is in India. The fact that current month F&O series closes on 31st March, 2011 and FIIs and mutual funds generally try to boost their NAV at the end of financial year may also have contributed for the surge in Nifty.

On Friday(25-3-11)Nifty opened at 5589 with a gain of 67 points, moved in the range 5563 - 5583 till 1:00 p.m., surged to 5667 and closed at 5654 with a gain of 132 points, at the centre of M2. Though Nifty moving to centre of M2(5642) once it enters M2(above 5464)is quite logical, it was not expected since Nifty never breached 5610 level after 28th January, 2011. Now Nifty can move to top of M2(5797)during this week or reverse after moving above 5700. Nifty futures range was 5571 - 5693, having a difference of 122 points. The Agni level for tomorrow is at 5617 and exit longs when Nifty moves below Agni level.

Nifty closes @ 5522

Today(24-3-11)Nifty opened at 5511 with a gain of 31 points, moved in the range 5496 - 5529 and closed at 5522 with a gain of 42 points. Nifty futures range was 5510 - 5553, having a difference of 43 points only. Tomorrow's Agni level is at 5472.

Nifty closes at M2(above 5464)

Today(23-3-11)Nifty opened at 5407 with a loss of 7 points, moved up fast to M2(above 5464) ie. 5472(10:10), thereafter moved in the narrow range 5461 - 5485 and closed at 5480 with a gain of 66 points. Nifty futures range was 5415 -> 5505, having a difference of 90 points. Tomorrow's Agni level is at 5378 and Nifty may move further up as mentioned yesterday.