Nifty tested 5850 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.15% with 0.7 breadth.
2. 563rd day since the highs of 6338, 287th day since the lows of 4531, 19th day since the swing highs of 6111.
Nifty closed the week with a loss of 0.25%.This was 3rd consecutive down week of Nifty.For any bullish possibility in short term, Nifty should start advancing from next week. Else if Nifty continues to slide down, then it opens itself up for deeper cuts.This week's range was 116 points and monthly range now stands at 199 points, Quarterly range at 258 points.
1. Nifty down by 0.15% with 0.7 breadth.
2. 563rd day since the highs of 6338, 287th day since the lows of 4531, 19th day since the swing highs of 6111.
Nifty closed the week with a loss of 0.25%.This was 3rd consecutive down week of Nifty.For any bullish possibility in short term, Nifty should start advancing from next week. Else if Nifty continues to slide down, then it opens itself up for deeper cuts.This week's range was 116 points and monthly range now stands at 199 points, Quarterly range at 258 points.
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