Nifty managed to close above 5600 today though it moved in narrow range of 60 points with high volumes and neutral breadth. Important points for today.
1. Nifty up by 0.8% with 1.3 breadth.
2. 318th day since the highs of 6338, 43rd day since the lows of 4531.
Nifty closed above 5600 with high volumes.Upside momentum remains good in Nifty but price action remains moderate.Timewise Nifty is approaching medium term Top but given the +ve momentum,Nifty should slow down first before it reverses. Nifty expanded the monthly and quarterly today being at 462 & 1033 points.On quarterly basis ,Nifty's range in this quarter is now highest in the last 10 Qtr's ie since Q3'09.
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