Nifty started the year on a +ve note with with lower volumes and +ve breadth. Important points for today.
1. Nifty up by 0.75% with 2.6 breadth.
2. 530th day since the highs of 6338, 254th day since the lows of 4531.
Nifty has broken on upside today.Further +ve moves should come now.Nifty may either keep on crawling up or it may try to shoot up.If Nifty survives above 6000-6050 level on weekly closing basis should new highs ie 6350+ become feasible in short term.But if Nifty fails to cross 6000+ resistance then pullback may be expected in coming days. January is a volatile month and after december's 142 point range, the chances of seeing sharp swing in January are there. Unless Nifty breach 5400 level , Uptrend will not end.
1. Nifty up by 0.75% with 2.6 breadth.
2. 530th day since the highs of 6338, 254th day since the lows of 4531.
Nifty has broken on upside today.Further +ve moves should come now.Nifty may either keep on crawling up or it may try to shoot up.If Nifty survives above 6000-6050 level on weekly closing basis should new highs ie 6350+ become feasible in short term.But if Nifty fails to cross 6000+ resistance then pullback may be expected in coming days. January is a volatile month and after december's 142 point range, the chances of seeing sharp swing in January are there. Unless Nifty breach 5400 level , Uptrend will not end.
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