Nifty bounced later in the day to close above 5700 levels with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 1.0% with 1.8 breadth.
2. 476th day since the highs of 6338, 202nd day since the lows of 4531.
Nifty has bounced twice from around 5650 levels, indicating that 5600+ is providing some support to Nifty.If Nifty sustains 5700+ levels till next week then new all time highs are possible before Diwali.A decisive breakout above 5800 should clear the way to 6300 levels. Weekly and monthly range stands at 115/179 points.
1. Nifty up by 1.0% with 1.8 breadth.
2. 476th day since the highs of 6338, 202nd day since the lows of 4531.
Nifty has bounced twice from around 5650 levels, indicating that 5600+ is providing some support to Nifty.If Nifty sustains 5700+ levels till next week then new all time highs are possible before Diwali.A decisive breakout above 5800 should clear the way to 6300 levels. Weekly and monthly range stands at 115/179 points.
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