Nifty bounced up with higher volumes and +ve breadth. Important points for today.
1. Nifty up by 1.6% with 2.0 breadth.
2. 507th day since the highs of 6338, 231st day since the lows of 4531.
Nifty is heading into resistance zone of 5750-5800 levels. If Nifty crosses this, then expect to see some quick upmove in next 1-2 weeks time.Chances of Nifty breaking through the resistance are good, since the correction/consolidation of last 6-7 weeks is shallow and Nifty has not corrected below 5550 levels besides repeated attempts.Monthly range remains at 229 points with 2 days to go.
1. Nifty up by 1.6% with 2.0 breadth.
2. 507th day since the highs of 6338, 231st day since the lows of 4531.
Nifty is heading into resistance zone of 5750-5800 levels. If Nifty crosses this, then expect to see some quick upmove in next 1-2 weeks time.Chances of Nifty breaking through the resistance are good, since the correction/consolidation of last 6-7 weeks is shallow and Nifty has not corrected below 5550 levels besides repeated attempts.Monthly range remains at 229 points with 2 days to go.
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