Wednesday, January 18, 2012

Jan18 Update

Nifty moved in a narrow range and closed marginally -ve with higher volumes and -ve breadth. Important points for today.

1.Nifty down by 0.3% with 0.43 breadth.
2. 296th day since the highs of 6338, 21st day since the lows of 4531.

Nifty paused after yesterday's big move with high volumes and -ve breadth.Nifty has undergone breadth correction without price action in a 49 point range.I don't think this is a short term Top of Nifty, so further upmove is expected in next few days.This week's range stands at 153 points till today.

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