Nifty paused and consolidated its breakout above 5800 levels with moderately high volumes and +ve breadth. Important points for today.
1. Nifty down by 0.15% with 2.5 breadth.
2. 510th day since the highs of 6338, 234th day since the lows of 4531.
Nifty moved in 45 point range and remained above 5850 levels.Today was 8th day from the swing lows of 5548.How Nifty makes the next upmove will give indication about the sustainability of this upmove.From the medium term lows of 4770 in June, Nifty has made two impulsive moves of 5 weeks of 570/600 points. The current move is 351/2weeks as of today.Another few 100 points could very well be insight. YearlyQuarterly range stands at 1311/351 points with 19 days to go.
1. Nifty down by 0.15% with 2.5 breadth.
2. 510th day since the highs of 6338, 234th day since the lows of 4531.
Nifty moved in 45 point range and remained above 5850 levels.Today was 8th day from the swing lows of 5548.How Nifty makes the next upmove will give indication about the sustainability of this upmove.From the medium term lows of 4770 in June, Nifty has made two impulsive moves of 5 weeks of 570/600 points. The current move is 351/2weeks as of today.Another few 100 points could very well be insight. YearlyQuarterly range stands at 1311/351 points with 19 days to go.
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