Tuesday, July 5, 2011

Jul5 Update

Nifty traded in narrow range with low volumes and neutral breadth. Important points for today.

1.Nifty down by 0.3% with 1.0 breadth.
2.98th day since the lows of 5177,165th day since the highs of 6338,52nd day since the swing highs of 5906.

Nifty has got into narrow range movement after friday's pullback.Nifty has not yet attempted a go at 5700 again.I expect Nifty to reattempt 5700 again and the strength around those levels will decide whether Nifty would remain in this upmove for more or 5700 would prove to be a turning point.

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