Nifty was sideways with +ve bias with very low volumes and +ve breadth. Important points for today.
1. Nifty up by 0.3% with 1.8 breadth.
2. 378th day since the highs of 6338, 104th day since the lows of 4531, 61st day since the swing highs of 5629.
Nifty moved in 49 point range and closed above 4900. Today was 3rd consecutive up day of Nifty. In 3 days Nifty has moved up by 1%. Nifty may revisit last week's low by end of this week.The upmove looks to be only a short term move and Nifty is likely to move down again.If Nifty takes support at ~4700 again and moves up then Nifty has good chance of going 5000+ in weeks ahead.
1. Nifty up by 0.3% with 1.8 breadth.
2. 378th day since the highs of 6338, 104th day since the lows of 4531, 61st day since the swing highs of 5629.
Nifty moved in 49 point range and closed above 4900. Today was 3rd consecutive up day of Nifty. In 3 days Nifty has moved up by 1%. Nifty may revisit last week's low by end of this week.The upmove looks to be only a short term move and Nifty is likely to move down again.If Nifty takes support at ~4700 again and moves up then Nifty has good chance of going 5000+ in weeks ahead.
No comments:
Post a Comment