Thursday, January 5, 2012

Jan5 Update

Nifty moved in very narrow range of 49 points with low volumes and neutral breadth. Important points for today.

1.Nifty closed flat with 1.2 breadth.
2.287th day since the highs of 6338, 12th day since the lows of 4531.

Nifty has paused for 2 days now.If tomorrows weekly closing is around 4750-4800 levels, then Nifty's upside bias will be stronger.Since Nifty is pausing at 4800, so on upmove ,I would expect Nifty to see close to 5100 levels.

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