Nifty after a brief dip rallied to 5900 levels with higher volumes and neutral breadth. Important points for today.
1. Nifty up by 0.7% with 1.4 breadth.
2. 521st day since the highs of 6338, 245th day since the lows of 4531.
Nifty regained some strength with a close around 5900.Today's range was 82 points indicating Nifty may be entering a period of expanding Range.Monthly range is 142 points and Quarterly range remains at 417 points.If Nifty goes past 6000 levels, then strength above 6000 will decide how far Nifty may survive above that level.There is likelihood that Nifty's 6000+ move may be capitulation of upmove from 5548 OR from 4531.
1. Nifty up by 0.7% with 1.4 breadth.
2. 521st day since the highs of 6338, 245th day since the lows of 4531.
Nifty regained some strength with a close around 5900.Today's range was 82 points indicating Nifty may be entering a period of expanding Range.Monthly range is 142 points and Quarterly range remains at 417 points.If Nifty goes past 6000 levels, then strength above 6000 will decide how far Nifty may survive above that level.There is likelihood that Nifty's 6000+ move may be capitulation of upmove from 5548 OR from 4531.
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