Nifty shed yesterday's gain with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.75% with 0.55 breadth.
2. 414th day since the highs of 6338, 140th day since the lows of 4531, 97th day since the swing highs of 5629.
Nifty traded in a range of 36 points. This week's range till today is 91points.Nifty's bias is +ve but momentum is missing.To get the momentum, there should be a volatile move in the opposite direction. So I expect Nifty to move up sharply(100+ points) if the upmove from 4770 is ending or vice versa. Monthly range too remains at 91 points after 1.5 weeks.
1. Nifty down by 0.75% with 0.55 breadth.
2. 414th day since the highs of 6338, 140th day since the lows of 4531, 97th day since the swing highs of 5629.
Nifty traded in a range of 36 points. This week's range till today is 91points.Nifty's bias is +ve but momentum is missing.To get the momentum, there should be a volatile move in the opposite direction. So I expect Nifty to move up sharply(100+ points) if the upmove from 4770 is ending or vice versa. Monthly range too remains at 91 points after 1.5 weeks.
No comments:
Post a Comment