Nifty touched 6100 levels but gave up the gains with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.6% with 0.39 breadth.
2. 545th day since the highs of 6338, 269th day since the lows of 4531.
Nifty closed in the red today.Today's range was 61 points and monthly range now stands at 166 points.Nifty is moving in 100 point weekly range since last 7-8 weeks. Range expansion week should clear up the medium term direction of the Nifty.I don't see Nifty continuing its snail pace upmove for few more weeks, either it should go up in a big move or it may start receeding soon.
1. Nifty down by 0.6% with 0.39 breadth.
2. 545th day since the highs of 6338, 269th day since the lows of 4531.
Nifty closed in the red today.Today's range was 61 points and monthly range now stands at 166 points.Nifty is moving in 100 point weekly range since last 7-8 weeks. Range expansion week should clear up the medium term direction of the Nifty.I don't see Nifty continuing its snail pace upmove for few more weeks, either it should go up in a big move or it may start receeding soon.
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