Nifty moved up in a narrow range with +ve breadth.Important points for today.
1.Nifty moved up by 0.5% with 1.5 breadth.
2.Nifty staying in range of 5200-5400 for more than a month now.
Nifty is not doing much for the last more than a month and is in a tight range of 5200-5400.Todays monthly closing was +ve but weekly closing was -ve.On weekly charts Nifty is in 100 point range of 5262-5361 for last 7 weeks.This is either a consolidation for an upsurge, OR Nifty is about move in downmove.On monthly charts,it was 3rd +ve closing and momentum seems to have slowed down,So we can look for some downside here.
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