Nifty Moved in 39 point range with moderately low volumes and +ve breadth. Important points for today.
1. Nifty flat with 1.9 breadth.
2. 408th day since the highs of 6338, 134th day since the lows of 4531, 91st day since the swing highs of 5629.
Today was 5th day of Nifty's upmove.The first upmove from 4770-5144 lasted for 8 days.How Nifty carries this move further will decide whether this is capitulation of the move from 4770 or Nifty may remain in uptrend for longer.Chances of expansion in this quarter are high since last quarter was only 608 points and lowest in 4-5 years.Timewise also Nifty is in 87th week since the highs of 6338(Nov'10).Revisit to lows of 4531/new lows may be possible in next weeks.
1. Nifty flat with 1.9 breadth.
2. 408th day since the highs of 6338, 134th day since the lows of 4531, 91st day since the swing highs of 5629.
Today was 5th day of Nifty's upmove.The first upmove from 4770-5144 lasted for 8 days.How Nifty carries this move further will decide whether this is capitulation of the move from 4770 or Nifty may remain in uptrend for longer.Chances of expansion in this quarter are high since last quarter was only 608 points and lowest in 4-5 years.Timewise also Nifty is in 87th week since the highs of 6338(Nov'10).Revisit to lows of 4531/new lows may be possible in next weeks.
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