Nifty bounced above 5700 with moderately high volumes and neutral breadth. Important points for today.
1. Nifty up by 1.0% with 1.5 breadth.
2. 468th day since the highs of 6338, 194th day since the lows of 4531.
Nifty closed the month/week above 5700.Today was 4th consecutive up week of Nifty.Range for this week was quite low at 97 points.Monthly/quarterly range ended at 520/703 points after today's move.Nifty paused for few days after breaking out above 5450 levels. But Nifty's correction was limited to barely 1% (closing basis).Nifty remains in medium term upmove and short term consolidation.Looking ahead , Nifty on beginning its upmove should scale new highs above 6350 in coming weeks.
1. Nifty up by 1.0% with 1.5 breadth.
2. 468th day since the highs of 6338, 194th day since the lows of 4531.
Nifty closed the month/week above 5700.Today was 4th consecutive up week of Nifty.Range for this week was quite low at 97 points.Monthly/quarterly range ended at 520/703 points after today's move.Nifty paused for few days after breaking out above 5450 levels. But Nifty's correction was limited to barely 1% (closing basis).Nifty remains in medium term upmove and short term consolidation.Looking ahead , Nifty on beginning its upmove should scale new highs above 6350 in coming weeks.
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