Nifty was again confined in a narrow range with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.3% with 1.9 breadth.
2. 410th day since the highs of 6338, 136th day since the lows of 4531, 93rd day since the swing highs of 5629.
Nifty closed above 5300 today though range was only 44 points. Nifty has moved in 54 point range in 3 days of this week.This kind of compression generally signals that the end of move may be nearing.It is possible that Nifty may head higher in next few days amid narrow range and then start reversal sharply.
1. Nifty up by 0.3% with 1.9 breadth.
2. 410th day since the highs of 6338, 136th day since the lows of 4531, 93rd day since the swing highs of 5629.
Nifty closed above 5300 today though range was only 44 points. Nifty has moved in 54 point range in 3 days of this week.This kind of compression generally signals that the end of move may be nearing.It is possible that Nifty may head higher in next few days amid narrow range and then start reversal sharply.
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