Nifty hovered in a narrow range and closed above 5200 with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.4% with 0.9 breadth.
2. 359th day since the highs of 6338, 85th day since the lows of 4531, 42nd day since the swing highs of 5629.
Nifty paused today after yesterday's steep fall.Nifty should resume its downtrend if yesterday's move was start of an impulsive move else Nifty remains in sideways rangebound movement. Timing indicators point towards range break to happen now.Nifty previous upmove from 4531-5629 was 43 days long.April's range till today stands at 198 points.
1. Nifty up by 0.4% with 0.9 breadth.
2. 359th day since the highs of 6338, 85th day since the lows of 4531, 42nd day since the swing highs of 5629.
Nifty paused today after yesterday's steep fall.Nifty should resume its downtrend if yesterday's move was start of an impulsive move else Nifty remains in sideways rangebound movement. Timing indicators point towards range break to happen now.Nifty previous upmove from 4531-5629 was 43 days long.April's range till today stands at 198 points.
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