Nifty traded in a narrow range with low volumes and +ve breadth. Important points for today.
1. Nifty up by 0.2% with 1.9 breadth.
2. 429th day since the highs of 6338, 155th day since the lows of 4531.
Nifty was sideways with +ve bias.Nifty is likely to clear its medium term move in next 1-2 weeks. I expect that if Nifty trades sideways for next 2 weeks, then Nifty may rise upwards over coming weeks towards 6000 levels. But if Nifty decides to fall below 5000, then retest of 4500 is likely to happen.Quarterly range till today stands at 316 points only and it should expand in the coming weeks.
1. Nifty up by 0.2% with 1.9 breadth.
2. 429th day since the highs of 6338, 155th day since the lows of 4531.
Nifty was sideways with +ve bias.Nifty is likely to clear its medium term move in next 1-2 weeks. I expect that if Nifty trades sideways for next 2 weeks, then Nifty may rise upwards over coming weeks towards 6000 levels. But if Nifty decides to fall below 5000, then retest of 4500 is likely to happen.Quarterly range till today stands at 316 points only and it should expand in the coming weeks.
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