Nifty broke on the upside above 5800 with high volumes and +ve breadth. Important points for today.
1. Nifty up by 1.7% with 1.5 breadth.
2. 508th day since the highs of 6338, 232nd day since the lows of 4531.
Nifty has given a decisive breakout on the upside having closed above the previous highs of 5815 .Further sharp upmoves are expected now in the coming days.I think 6300 is the next significant resistance for Nifty now.Monthly range now stands at 285 points and yearly range is 1245 points till today. Range is now very likely going to be extended on the upside by atleast 200-300 points.
1. Nifty up by 1.7% with 1.5 breadth.
2. 508th day since the highs of 6338, 232nd day since the lows of 4531.
Nifty has given a decisive breakout on the upside having closed above the previous highs of 5815 .Further sharp upmoves are expected now in the coming days.I think 6300 is the next significant resistance for Nifty now.Monthly range now stands at 285 points and yearly range is 1245 points till today. Range is now very likely going to be extended on the upside by atleast 200-300 points.
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