Nifty moved in 50 point range with low volumes and -ve breadth. Important points for today.
1. Nifty down 0.5% with 0.55 breadth.
2. 380th day since the highs of 6338, 106th day since the lows of 4531, 63rd day since the swing highs of 5629.
Nifty closed below 4850 after touching around 4800 early in the day.Today was 16th day since Nifty's reversal from 5279.If Nifty breaks 4700 level on closing basis , lower levels are expected to follow then.Above 4700, Nifty may remain in sideways range between 4700-5000.Nifty's weekly range till today stands at 153 points and monthly range at 491 points.
1. Nifty down 0.5% with 0.55 breadth.
2. 380th day since the highs of 6338, 106th day since the lows of 4531, 63rd day since the swing highs of 5629.
Nifty closed below 4850 after touching around 4800 early in the day.Today was 16th day since Nifty's reversal from 5279.If Nifty breaks 4700 level on closing basis , lower levels are expected to follow then.Above 4700, Nifty may remain in sideways range between 4700-5000.Nifty's weekly range till today stands at 153 points and monthly range at 491 points.
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