Nifty corrected tody to test lower 5700 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.4% with 0.8 breadth.
2.495th day since the highs of 6338, 219th day since the lows of 4531.
Nifty mildly corrected after 6 consecutive days of advance.Nifty it seems has formed a good base around 5600-5700 levels as launchpad for going to higher levels.Medium term upmove remains intact as no significant lower levels have been broken.Expect to see higher levels in coming days/weeks. This week's range is 98 points till today.Last week was 128 points, so if this week is less than that, then previous week's range expansion has been halted.
1. Nifty down by 0.4% with 0.8 breadth.
2.495th day since the highs of 6338, 219th day since the lows of 4531.
Nifty mildly corrected after 6 consecutive days of advance.Nifty it seems has formed a good base around 5600-5700 levels as launchpad for going to higher levels.Medium term upmove remains intact as no significant lower levels have been broken.Expect to see higher levels in coming days/weeks. This week's range is 98 points till today.Last week was 128 points, so if this week is less than that, then previous week's range expansion has been halted.
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