Nifty powered on the upside with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 2.0% with 2.1 breadth.
2. 454th day since the highs of 6338, 180th day since the lows of 4531.
Nifty bounced strongly today and closed above 5300 levels.With today's move, Nifty has closed this week with gain of 1.6% recovering 65% of what it lost in the previous week.5450 is the decisive level for Nifty. If Nifty closes above 5450 next week , then it is an upside breakout and Nifty should move further high in the coming weeks.This week/month range stands at 132 points.Today's upmove was with increased volumes, so there is a good probability of this move going further up.
1. Nifty up by 2.0% with 2.1 breadth.
2. 454th day since the highs of 6338, 180th day since the lows of 4531.
Nifty bounced strongly today and closed above 5300 levels.With today's move, Nifty has closed this week with gain of 1.6% recovering 65% of what it lost in the previous week.5450 is the decisive level for Nifty. If Nifty closes above 5450 next week , then it is an upside breakout and Nifty should move further high in the coming weeks.This week/month range stands at 132 points.Today's upmove was with increased volumes, so there is a good probability of this move going further up.
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