Nifty gave the gains made on expiry day with moderate high volumes and neutral breadth. Important points for today.
1. Nifty down by 1.1% with 0.8 breadth.
2. 449th day since the highs of 6338, 175th day since the lows of 4531
Nifty closed just above 5250 levels and closed the week 2.5% down.Weekly range this week was 161 points.Support of 5150-5200 has not given away, so Nifty if stays weak for another few days may bounce may lower levels.If Nifty closes in the red next weekly closing also , then Nifty may touch below 5000 levels in coming weeks in september.Quaterly range stands at 416 points.Around 200 points should be added atleast to the quarterly range in this month.
1. Nifty down by 1.1% with 0.8 breadth.
2. 449th day since the highs of 6338, 175th day since the lows of 4531
Nifty closed just above 5250 levels and closed the week 2.5% down.Weekly range this week was 161 points.Support of 5150-5200 has not given away, so Nifty if stays weak for another few days may bounce may lower levels.If Nifty closes in the red next weekly closing also , then Nifty may touch below 5000 levels in coming weeks in september.Quaterly range stands at 416 points.Around 200 points should be added atleast to the quarterly range in this month.
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