Nifty moved around 5600 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.4% with 1.25 breadth.
2. 489th day since the highs of 6338,215th day since the lows of 4531.
Nifty continues with its rangebound narrow directionless movement.Nifty has closed below 5630-5640 that was support for few days but has not gone down much below that.I think that tells that Nifty has support at lower levels but not triggers to take it up.Unless Nifty regains momentum, upside will be difficult and 5500-5550 should act as good support levels for any bullish possibility to remain.Monthly range ended with 232 points.
1. Nifty up by 0.4% with 1.25 breadth.
2. 489th day since the highs of 6338,215th day since the lows of 4531.
Nifty continues with its rangebound narrow directionless movement.Nifty has closed below 5630-5640 that was support for few days but has not gone down much below that.I think that tells that Nifty has support at lower levels but not triggers to take it up.Unless Nifty regains momentum, upside will be difficult and 5500-5550 should act as good support levels for any bullish possibility to remain.Monthly range ended with 232 points.
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