Yesterday's move has still not given a clear direction where things are heading.
This is seen mainly from the way the market pruned down without any evidence of selling pressure or panic. One significant aspect is volume, which was low.
The other influence is the sinking Rupee which didn't bring buying support, and yes, there was no clear mood for selling either.
On the whole it remained a tentative profit booking kind of a day.
The positive being that it was a very orderly correction.
Interestingly the numbers which have been the main feature of these postings lately, were not abandoned at all.
2660.50 close yesterday is hardly any different from 2661, one of the highlighted numbers all these last several sessions. This was written on Nov 22:
AMITBE said:
2572 is protection for 2569 and 2561 which are important marks.
It would be good to keep above this level at close.
If we go looking for numbers further down in this series, 2652 and 2643 have already been mentioned and featured recently. To add another few we arrive at 2634-2625-2617-2609, as these are also synced in this series, and currently the Nifty is synced solidly in this series providing us with an interesting and enchanting study of the energy of series of numbers.
So to extend the number investigation, the high probability is if the Nifty remains in sync with this series, it's a mark of strength, as coming up along these numbers is not going to be an arduous task no matter if it seeks lower numbers of the series.
The time factor was mentioned yesterday, and we may be looking to some significant moves over the next two or three days.
The levels, we would do well to stay above 2670.
For the rest the levels have all been mentioned in several preceding posts.