Monday, October 24, 2011

Oct24 Update

Nifty moved up today with low volumes and neutral breadth. Important points for today.

1.Nifty up by 1.0% with 0.75 breadth.
2.238th day since the highs of 6338, 38th day since the lows of 4720.

Nifty remains stuck in around 150 point range not finding enough momentum to go beyond 5200.Given the time Nifty has taken since the lows of 4720,there shud be a capitulation upmove for Nifty to reverse in downward direction.So I expect a mild break above 5200 may happen in next few days.

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