Nifty moved sideways today with moderate volumes and neutral breadth.Important points for today.
1.Nifty up by 0.05% with 1.2 breadth.
2.76th day of upmove since the lows of 4786.
Nifty was ranged in yesterdays range.Nifty seems to be topping out here on short term given the price action and breadth of last 2 days.This could also be a Medium/Long term top,but it will only be known on subsequent move of Nifty.This weekly closing is likely to be now above 5600,so if Nifty undergoes weekly correction next week,then chances of Nifty having formed a medium/long term top this week will increase.
No comments:
Post a Comment