Nifty crawled to 5100+ levels with lower volumes and moderate breadth. Important points for today.
1. Nifty up by 0.8% with 1.1 breadth.
2. 399th day since the highs of 6338, 125th day since the lows of 4531, 82nd day since the swing highs of 5629.
Nifty moved in 65 point range and moved upwards. Nifty may reattempt 5200 levels again.But if Nifty fails again at 5200, retest of 4800 is likely in a swift manner.Nifty must cross 5200 in next few days to open possibility of further highs and for this upmove to sustain further.But failure would indicate that Nifty may be headed down. Monthly and quarterly range remain at 420 and 608 points. Quarterly range is pointing to a volatile move in July/August.
1. Nifty up by 0.8% with 1.1 breadth.
2. 399th day since the highs of 6338, 125th day since the lows of 4531, 82nd day since the swing highs of 5629.
Nifty moved in 65 point range and moved upwards. Nifty may reattempt 5200 levels again.But if Nifty fails again at 5200, retest of 4800 is likely in a swift manner.Nifty must cross 5200 in next few days to open possibility of further highs and for this upmove to sustain further.But failure would indicate that Nifty may be headed down. Monthly and quarterly range remain at 420 and 608 points. Quarterly range is pointing to a volatile move in July/August.
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