Nifty managed to close above 6000 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.25% with 1.5 breadth.
2. 532nd day since the highs of 6338, 256th day since the lows of 4531.
Nifty moved in a range of 31 points today around 6000 levels. Nifty formed a hammer pattern today with shadow, indicating that Nifty is facing resistance at higher levels.Look for signs of weakness here to indicate reversal.A strong surge of 1-2% on closing basis should nullify the bear scenario and open the gates for further highs.Range for this month is 82 points till today.
1. Nifty up by 0.25% with 1.5 breadth.
2. 532nd day since the highs of 6338, 256th day since the lows of 4531.
Nifty moved in a range of 31 points today around 6000 levels. Nifty formed a hammer pattern today with shadow, indicating that Nifty is facing resistance at higher levels.Look for signs of weakness here to indicate reversal.A strong surge of 1-2% on closing basis should nullify the bear scenario and open the gates for further highs.Range for this month is 82 points till today.
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