Nifty could not sustain above 5350 levels and closed below it with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.3% with 0.55 breadth.
2. 435th day since the highs of 6338, 161st day since the lows of 4531.
Nifty failed to close above 5350 levels for 3 days now. Any further weakness in Nifty should open the path to lower support levels of 5150. Nifty remains in short/Intermediate term upmove. Monthly/Quarterly range remain at 214/345 points.Also Yearly range of 2012 is 1041 points till now. I see atleast 500 points expansion in yearly range ie below 4531 or above 5629 or somewhere slightly below and above these threshold levels.
1. Nifty down by 0.3% with 0.55 breadth.
2. 435th day since the highs of 6338, 161st day since the lows of 4531.
Nifty failed to close above 5350 levels for 3 days now. Any further weakness in Nifty should open the path to lower support levels of 5150. Nifty remains in short/Intermediate term upmove. Monthly/Quarterly range remain at 214/345 points.Also Yearly range of 2012 is 1041 points till now. I see atleast 500 points expansion in yearly range ie below 4531 or above 5629 or somewhere slightly below and above these threshold levels.
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