Nifty moved in a very narrow range with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.3% with 1.9 breadth.
2. 469th day since the highs of 6338,195th day since the lows of 4531.
Nifty protected 5700 levels though the range was only 28 points.Nifty has cleared the hurdle of 5600 decisively having done weekly close above 5650 for2 weeks and in sideways consolidation only corrected by 50 points indicating support at 5600+ levels.So next significant resistance that Nifty should attempt is the all time highs of 6300+.This is a start of new quarter and Nifty's range in the 3 quarters of this year have been 1041/608/703 points.New All time highs for Nifty is very much possible in this quarter.
1. Nifty up by 0.3% with 1.9 breadth.
2. 469th day since the highs of 6338,195th day since the lows of 4531.
Nifty protected 5700 levels though the range was only 28 points.Nifty has cleared the hurdle of 5600 decisively having done weekly close above 5650 for2 weeks and in sideways consolidation only corrected by 50 points indicating support at 5600+ levels.So next significant resistance that Nifty should attempt is the all time highs of 6300+.This is a start of new quarter and Nifty's range in the 3 quarters of this year have been 1041/608/703 points.New All time highs for Nifty is very much possible in this quarter.
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