Nifty after completing a short term correction below 5850 powered up to close above 5900 levels with higher volumes and neutral breadth. Important points for today.
1. Nifty up by 0.5% with 1.3 breadth.
2. 513th day since the highs of 6338, 237th day since the lows of 4531.
Nifty closed above 5900 levels.Today's end was sensational though price upmove on closing basis is modest.Today was 5th day after Nifty broke out above previous highs of 5815. Nifty's move since has been modest in price movement. Today was 11th day of upmove from 5548.Monthly/Quarterly range stands at 104/396 points. If Nifty does not gather price momentum in next week, then this is a sign of weakness and good chance of Nifty reversing from here and making a medium term Top.
1. Nifty up by 0.5% with 1.3 breadth.
2. 513th day since the highs of 6338, 237th day since the lows of 4531.
Nifty closed above 5900 levels.Today's end was sensational though price upmove on closing basis is modest.Today was 5th day after Nifty broke out above previous highs of 5815. Nifty's move since has been modest in price movement. Today was 11th day of upmove from 5548.Monthly/Quarterly range stands at 104/396 points. If Nifty does not gather price momentum in next week, then this is a sign of weakness and good chance of Nifty reversing from here and making a medium term Top.
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