Nifty had inside day today with higher volumes and neutral breadth. Important points for today.
1. Nifty down by 0.2% with 0.8 breadth.
2. 517th day since the highs of 6338, 241st day since the lows of 4531.
Nifty again closed below 5900 levels though it was marginally down on closing basis. Only if Nifty attempts 5950 again and fails and closes below 5815 levels will confirm the reversal in Nifty. Initial signs of exhaustion are there but daily closing around 5800 is needed to confirm the downtrend.With only 12 days to go in this month , Nifty's yearly range stands at 1378 points till today.
1. Nifty down by 0.2% with 0.8 breadth.
2. 517th day since the highs of 6338, 241st day since the lows of 4531.
Nifty again closed below 5900 levels though it was marginally down on closing basis. Only if Nifty attempts 5950 again and fails and closes below 5815 levels will confirm the reversal in Nifty. Initial signs of exhaustion are there but daily closing around 5800 is needed to confirm the downtrend.With only 12 days to go in this month , Nifty's yearly range stands at 1378 points till today.
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