Nifty moved in sideways consolidation with moderately high volumes and neutral breadth. Important points for today.
1. Nifty down by 0.2% with 1.0 breadth.
2. 466th day since the highs of 6338, 192nd day since the lows of 4531.
Nifty has entered into narrow trading band of about 71 points in 3 days after big upside breakout from 5450.Next 1-2 days should clear up whether Nifty may spend more time consolidating on downside or it is ready to go further up.Monthly/Quarterly range remain at 505/688 points with 2 days to go.I don't expect much expansion in the range in next 2 days, but next quarter should see higher range than this quarter.
1. Nifty down by 0.2% with 1.0 breadth.
2. 466th day since the highs of 6338, 192nd day since the lows of 4531.
Nifty has entered into narrow trading band of about 71 points in 3 days after big upside breakout from 5450.Next 1-2 days should clear up whether Nifty may spend more time consolidating on downside or it is ready to go further up.Monthly/Quarterly range remain at 505/688 points with 2 days to go.I don't expect much expansion in the range in next 2 days, but next quarter should see higher range than this quarter.
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