Nifty moved in 60 point range with -ve bias with moderate volumes. Important points for today.
1. Nifty down by 0.1% with 0.43 breadth.
3. 587th day since the highs of 6338, 311th day since the lows of 4531.
Nifty closed the week with a loss of 1.2%. Nifty has done weekly close below the previous swing lows of 5663.Today was 10th day since the reversal from 5950+. This week's range was 232 points and monthly range is 340 points till today. Whether Nifty is capitulating for short term bottom or it is bracing for next impulsive downmove will be known in next few days. Next 3-4 weeks are seasonally bullish in nature.
1. Nifty down by 0.1% with 0.43 breadth.
3. 587th day since the highs of 6338, 311th day since the lows of 4531.
Nifty closed the week with a loss of 1.2%. Nifty has done weekly close below the previous swing lows of 5663.Today was 10th day since the reversal from 5950+. This week's range was 232 points and monthly range is 340 points till today. Whether Nifty is capitulating for short term bottom or it is bracing for next impulsive downmove will be known in next few days. Next 3-4 weeks are seasonally bullish in nature.
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