nifty moved in 75 points range with higher volumes and +ve breadth. Important points for today.
1.Nifty flat with 2.1 breadth.
2.37th day since the lows of 5177,103rd day since the highs of 6338.
Nifty closed above 5900 for 2nd consecutive day.Nifty's 11 day rally is showing signs of exhaustion but Nifty could do a retrace/bounce before falling down.There are no definite signs of reversal(only signs of rally slowing down),so short term trend remains UP.Medium term trend remains down,unless Nifty takes out 6181 levels.
My view remains the same that this is bear rally after falling to 5177 and new lows will follow after this rally gets over.
No comments:
Post a Comment