Thursday, January 20, 2011

Jan20 Update

Nifty was again rangebound within 100 points with moderate volumes and neutral breadth.Important points for today.

1.Nifty up by 0.4% with 1.0 breadth.
2.13th days since 6181,52nd day since the highs of 6338.

Nifty is in 130 point range of 5620-5750 for last 6 days.I expect Nifty to either breach 5620 and fall to around 5100 levels OR Nifty may go towards 5900-6000 levels and then fall towards 5100 levels.Tomorrow's Weekly closing will be important.

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