Nifty moved in 24 point range with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.5% with 0.4 breadth.
2. 555th day since the highs of 6338, 279th day since the lows of 4531.
Nifty was in a very narrow range today and ended in the red.Nifty has closed below the lows of previous week. If Nifty not able to bounce above 6000, expect a swift cut in coming days in Nifty.Range for this month stands at 106 points while Quarterly range is at 177 points.Next week will be middle of this Quarter, so Nifty may reach 70-80% if its Range by then.By this assumption , I see a probable downside movement in Nifty in next 6-7 days.
1. Nifty down by 0.5% with 0.4 breadth.
2. 555th day since the highs of 6338, 279th day since the lows of 4531.
Nifty was in a very narrow range today and ended in the red.Nifty has closed below the lows of previous week. If Nifty not able to bounce above 6000, expect a swift cut in coming days in Nifty.Range for this month stands at 106 points while Quarterly range is at 177 points.Next week will be middle of this Quarter, so Nifty may reach 70-80% if its Range by then.By this assumption , I see a probable downside movement in Nifty in next 6-7 days.
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