Nifty was rangebound within 50 points with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.4% with 0.3 breadth.
2. 574th day since the highs of 6338, 298th day since the lows of 4531, 30th day since the swing highs of 6082/6111.
Nifty closed below 5700 today. Close above 5850 will be a first signal that Nifty has made a short term bottom around 5650 levels.For bullish scenario, there should be sharp upmove to new highs above 6100 in next 2 weeks.If not then Nifty may have entered a medium term correction here.Monthly range for the month of March is 76 points till today.
1. Nifty down by 0.4% with 0.3 breadth.
2. 574th day since the highs of 6338, 298th day since the lows of 4531, 30th day since the swing highs of 6082/6111.
Nifty closed below 5700 today. Close above 5850 will be a first signal that Nifty has made a short term bottom around 5650 levels.For bullish scenario, there should be sharp upmove to new highs above 6100 in next 2 weeks.If not then Nifty may have entered a medium term correction here.Monthly range for the month of March is 76 points till today.
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