Nifty gave the gains it had yesterday amid moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.6% with 0.8 breadth.
2. 477th day since the highs of 6338, 203rd day since the lows of 4531.
Nifty closed the week with a loss of 1.25% confirming that Nifty is in short term correction/consolidation phase.If this corrective phase leads to Nifty doing weekly closing below 5550-5600 then , it may be bearish turnaround else if Nifty sustains 5600+ level than higher levels should be there in coming weeks. This week's range was 115 points and monthly range till today stands at 179 points.
1. Nifty down by 0.6% with 0.8 breadth.
2. 477th day since the highs of 6338, 203rd day since the lows of 4531.
Nifty closed the week with a loss of 1.25% confirming that Nifty is in short term correction/consolidation phase.If this corrective phase leads to Nifty doing weekly closing below 5550-5600 then , it may be bearish turnaround else if Nifty sustains 5600+ level than higher levels should be there in coming weeks. This week's range was 115 points and monthly range till today stands at 179 points.
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