Nifty gave up yesterday's gain with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.9% with 0.3 breadth.
2. 541st day since the highs of 6338, 265th day since the lows of 4531.
Nifty even after today's loss closed above 6000 levels, that if sustained for rest of this week is bullish since Nifty is now forming a base at 6000+ levels.So an impulse move from here could easily take Nifty to new highs in coming days/weeks.Unless Nifty breach 5800 levels on daily/weekly closing basis, Bullish possibility remains open and Nifty remains in an uptrend.Monthly range stands at 133 points till today with 11 days to go.
1. Nifty down by 0.9% with 0.3 breadth.
2. 541st day since the highs of 6338, 265th day since the lows of 4531.
Nifty even after today's loss closed above 6000 levels, that if sustained for rest of this week is bullish since Nifty is now forming a base at 6000+ levels.So an impulse move from here could easily take Nifty to new highs in coming days/weeks.Unless Nifty breach 5800 levels on daily/weekly closing basis, Bullish possibility remains open and Nifty remains in an uptrend.Monthly range stands at 133 points till today with 11 days to go.
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