Nifty was listless today also with low volumes and -ve bias.Important points for today.
1. Nifty down by 0.75% with 0.6 breadth.
2. 421st day since the highs of 6338, 147th day since the lows of 4531, 104th day since the swing highs of 5629.
Nifty closed in the red for the 2nd consecutive week.Range in this week was only 88 points.July is turning to be low range month.But Nifty is undergoing significant range compression since last few weeks.Retest of the earlier lows look possible, but if Nifty expands upwards and stays up for few days, then it may head towards 6000+ levels in coming weeks/months.
1. Nifty down by 0.75% with 0.6 breadth.
2. 421st day since the highs of 6338, 147th day since the lows of 4531, 104th day since the swing highs of 5629.
Nifty closed in the red for the 2nd consecutive week.Range in this week was only 88 points.July is turning to be low range month.But Nifty is undergoing significant range compression since last few weeks.Retest of the earlier lows look possible, but if Nifty expands upwards and stays up for few days, then it may head towards 6000+ levels in coming weeks/months.
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