Nifty extended the gains with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 1.0% with 1.5 breadth.
2. 391st day since the highs of 6338, 117th day since the lows of 4531, 74th day since the swing highs of 5629.
Nifty closed above 5000 with 4th consecutive up day.Nifty has put in short term bottom around 4800 levels. But Nifty's bounce makes it at centre of quarterly range of 608 points. Nifty is expanding its quarterly range since last few quarters, so compression in this quarter indicates that Nifty is more likely to make volatile moves in next quarter.5378/4770 are the bounds of quarterly range till now. This is likely to expand on upside or downside by 100-200 points till end of this month.
1. Nifty up by 1.0% with 1.5 breadth.
2. 391st day since the highs of 6338, 117th day since the lows of 4531, 74th day since the swing highs of 5629.
Nifty closed above 5000 with 4th consecutive up day.Nifty has put in short term bottom around 4800 levels. But Nifty's bounce makes it at centre of quarterly range of 608 points. Nifty is expanding its quarterly range since last few quarters, so compression in this quarter indicates that Nifty is more likely to make volatile moves in next quarter.5378/4770 are the bounds of quarterly range till now. This is likely to expand on upside or downside by 100-200 points till end of this month.
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