Nifty moved with +ve bias with -ve breadth and moderately high volumes. Important points for today.
1. Nifty up by 0.45% with 0.45 breadth.
2. 573rd day since the highs of 638, 297th day since the lows of 4531, 29th day since the swing highs of 6082/6111.
Nifty closed the week with a loss of 2.25%. This was 5th consecutive down week of Nifty.This downmove could be the end of move from 4531 OR from 4770 OR from 5032 .Nifty could very well bounce from here upto 6000 levels and still be in downturn, But 2-3 close above 6000 should signal that this 5 week downside was a correction and Nifty may touch newer highs Quarterly range stands at 440 points and weekly range was 207 points last week.Feb ended with a range of 381 points.
1. Nifty up by 0.45% with 0.45 breadth.
2. 573rd day since the highs of 638, 297th day since the lows of 4531, 29th day since the swing highs of 6082/6111.
Nifty closed the week with a loss of 2.25%. This was 5th consecutive down week of Nifty.This downmove could be the end of move from 4531 OR from 4770 OR from 5032 .Nifty could very well bounce from here upto 6000 levels and still be in downturn, But 2-3 close above 6000 should signal that this 5 week downside was a correction and Nifty may touch newer highs Quarterly range stands at 440 points and weekly range was 207 points last week.Feb ended with a range of 381 points.
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