Nifty moved up with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.9% with 1.8 breadth.
2. 401st day since the highs of 6338, 127th day since the lows of 4531, 84th day since the swing highs of 5629.
Nifty is again approaching resistance line of 5200.Last 3 days upmove has been less than 1% move each day, implying that +ve momentum is missing and Nifty is just crawling upwards.On Timeline , Nifty is approaching important Fib no's on medium and intermediate terms(144/89).Short term trend remains up and last 2 week's low of 5015 should be the downside indicator incase Nifty breaches this level.Monthly and quarterly range remain at 420/608 points.
1. Nifty up by 0.9% with 1.8 breadth.
2. 401st day since the highs of 6338, 127th day since the lows of 4531, 84th day since the swing highs of 5629.
Nifty is again approaching resistance line of 5200.Last 3 days upmove has been less than 1% move each day, implying that +ve momentum is missing and Nifty is just crawling upwards.On Timeline , Nifty is approaching important Fib no's on medium and intermediate terms(144/89).Short term trend remains up and last 2 week's low of 5015 should be the downside indicator incase Nifty breaches this level.Monthly and quarterly range remain at 420/608 points.
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