Nhas not ifty wavered around 5250 with low volumes and neutral breadth. Important points for today.
1. Nifty up by 0.4% with 1.3 breadth.
2. 451st day since the highs of 6338, 177th day since the lows of 4531.
Nifty is finding support at lower 5200 levels.Today was 10th day since reversal and Nifty has not decisively tested 5200 levels.A bounce and then retest of 5200 may happen over this and next week. But if Nifty chose to go above 5450 levels, then Nifty ascend to 6000+ levels probably would have started. Range in the 2 days of this month is 62 points. Quarterly range remains at 416 points.Upper /Lower bound remain at 5032/5448 for the quarterly range.
1. Nifty up by 0.4% with 1.3 breadth.
2. 451st day since the highs of 6338, 177th day since the lows of 4531.
Nifty is finding support at lower 5200 levels.Today was 10th day since reversal and Nifty has not decisively tested 5200 levels.A bounce and then retest of 5200 may happen over this and next week. But if Nifty chose to go above 5450 levels, then Nifty ascend to 6000+ levels probably would have started. Range in the 2 days of this month is 62 points. Quarterly range remains at 416 points.Upper /Lower bound remain at 5032/5448 for the quarterly range.
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