Nifty hovered around 5200-5270 levels with low volumes and neutral breadth. Important points for today.
1. Nifty down by 0.15% with 0.8 breadth.
2. 416th day since the highs of 6338, 142nd day since the lows of 4531, 99th day since the swing highs of 5629.
Nifty traded flat today with low volumes and closed mildly in the red. Today's weekly closing was down by 1.8%.Nifty has entered into a short term correction that may last for some time but in very near term, could see a bounce to 5300+. Level of ~5160 remains a crtical point and close below that only would point to a deeper correction to 4600-4800 levels.In 2 weeks of this month, Nifty's range is 132 points. This month is turning out to be a low range month.If that holds true then August could see greater range expansion
1. Nifty down by 0.15% with 0.8 breadth.
2. 416th day since the highs of 6338, 142nd day since the lows of 4531, 99th day since the swing highs of 5629.
Nifty traded flat today with low volumes and closed mildly in the red. Today's weekly closing was down by 1.8%.Nifty has entered into a short term correction that may last for some time but in very near term, could see a bounce to 5300+. Level of ~5160 remains a crtical point and close below that only would point to a deeper correction to 4600-4800 levels.In 2 weeks of this month, Nifty's range is 132 points. This month is turning out to be a low range month.If that holds true then August could see greater range expansion
No comments:
Post a Comment