Highly volatile day

Today(31-11-11)Nifty opened at 4755 with a loss of 50 points on Asian market cues, moved up to 4789, moved down again to 4755, moved up to 4852, moved down again to 4780, moved up again to 4843 and closed at 4832 with a gain of 27 points. Nifty futures range was 4756 - 4862, having a difference of 106 points. As stated earlier, if Nifty moves above top of G1(4859) Nifty may move to 4912 - centre of G2(4960). Agni level for tomorrow is at 4838.

Nifty remains in G1 ie. below 4859

As Asian market cues were not good, Nifty didn't move to G2 as expected and remained in G1 itself. Today(29-11-11) Nifty opened at 4864 with a gain of 13 points, swiftly moved down to 4803, moved up to 4866, moved again down to 4787 and closed at 4805 with a loss of 46 points. Nifty futures range was 4788 - 4885, having a difference of 97 points. Tomorrow's Agni level is at 4795 and shifting from longs to shorts may be due today or tomorrow. Never hold longs when Nifty is below Agni level.

Nifty moves to top of G1(4859)

Today(28-11-11)Nifty opened at 4766 with a gain of 56 points, moved in the range 4793 - 4824 up to 14:00, moved up to top of G1(4859) and closed at 4851 with a gain of 141 points. Nifty futures range was 4750 - 4875, having a difference of 125 points. Nifty may move to 4912 & centre of G2(4960)shortly. Agni level for tomorrow is at 4721.

Nifty closing level holds 4700

On Friday(25-11-11)Nifty opened at 4710 with a loss of 46 points, moved further down to 4701, moved up to 4767(66 points up move on EFE against the expected 50 - 100 points), moved in the range 4726 - 4762 till 13:50, moved down to 4693 thereafter and closed at 4710 with a loss of 46 points. Nifty futures range was 4689 - 4778, having a difference of 89 points.
Thus, in this week Nifty breached earlier low of 4720 for the year and created a new low of 4639. It is yet to reach the anticipated minimum of 4612 mentioned in the post dated 18th November,2011. However, Nifty closing remained above 4700 level. There was also two positive closings during this week as expected in the post dated 20th Nov 2011. Whether Nifty may move to sub 4612 level or move a little up before that is to be seen during next week. Agni level for Monday is at 4660.

Nifty close maintains 4700 level

Today(24-11-11)being expiry day for F&O November series, market was highly volatile. Nifty opened at 4714 with a gain of 8 points, moved downwards to 4639(4639.10 - Nifty's lowest for the year 2011), moved up to 4708 crossing the Agni level @4652, moved again down to 4670, moved up fast 100 points within 30 minutes to 4771 and closed at 4756, at the centre of G1 with a gain of 50 points. Interestingly, the significant up move is seen on the preceding day of New Moon. Thus today also Nifty closing was above 4700 level. Nifty futures range was 4633 - 4768, having a difference of 135 points (very close to yesterday). Tomorrow being an exceptional Friday (condition No.1 - next day after F&O settlement) Nifty may move up 50 - 100 points (may be intra-day due to lack of cues from USA as their markets are closed for thanks giving festival). Tomorrow's Agni level is at 4638.

Nifty new low for the calendar year 2011 is 4640.95

Today(23-11-11) Nifty opened at 4780 with a loss of 32 points, moved in the range 4733 - 4758 up to 12:00, moved down wards swiftly breaking this years low of 4720 (as expected) to 4641, moved up to 4716 and closed at 4706 with a loss of 106 points. Nifty futures range was 4775 -> 4632, having a difference of 143 points. Tomorrow's Agni level is at 4652.

Caution: Today's Agni level 4704 was 108 points below yesterday's closing of 4812. Some new visitors fallaciously think that Nifty can be bought at any price if it is above Agni level. It was clarified earlier also that ideal Nifty buy/sell is around 20 points from Agni level, to avoid huge loss if trend reverses. As Agni level is having a bandwidth of 16 points, buy/sell should be effected only after Nifty moves plus/minus eight points from Agni level. Further, it was also advised that "Day trading Manthra" is to be applied. Today's Nifty movement teaches it well.

After 8 days Nifty closes in Green & above Agni level

Today(22-11-11)Nifty opened at 4795 with a gain of 17 points, moved up to 4854, moved down to 4787 and closed at 4812 with a gain of 34 points. Thus after 8 days Nifty closed in green and above Agni level. Nifty futures range was 4781 - 4860, having a difference of 79 points. Tomorrow's Agni level is at 4704 and Nifty may swing between positive and negative.