Nifty broke above 5400 today though only modestly with lower volumes and neutral breadth. Important points for today.
1. Nifty up by 1.0% with 1.2 breadth.
2. 441st day since the highs of 6338, 167th day since the lows of 4531.
Nifty after struggling in 100 point range of 5300-5400, finally broke out above 5400. This breakout is on low volumes and neutral breadth, but few days of +ve movement should continue now.5600-5700 should be next resistance level of Nifty.There is likelihood of a correction between 5500-5700 zone before Nifty moves further up towards 6000 levels.Monthly/Quarterly range now stand at 261/393 points.
1. Nifty up by 1.0% with 1.2 breadth.
2. 441st day since the highs of 6338, 167th day since the lows of 4531.
Nifty after struggling in 100 point range of 5300-5400, finally broke out above 5400. This breakout is on low volumes and neutral breadth, but few days of +ve movement should continue now.5600-5700 should be next resistance level of Nifty.There is likelihood of a correction between 5500-5700 zone before Nifty moves further up towards 6000 levels.Monthly/Quarterly range now stand at 261/393 points.
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