Nifty went past 5850 with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.8% with 1.3 breadth.
2. 577th day since the highs of 6338,301st day since the lows of 4531,33rd day since the swing highs of 6082.
Nifty closed above 5850 levels and was up for the 3rd consecutive day.Nifty has risen above 5850 faster than the fall it had from 5850-sub 5700 levels. Nifty may have started an impulsive upmove here.Or if it is a dead cat bounce, should retrace t0 5650 fairly fast by next week.If Nifty doesnot fall below 5800 and sustains around 5850-5900 levels for next few days, this is more likely an upmove with possible targets of 6100+ in coming days.This week's/Month's range is 215 points till today.
1. Nifty up by 0.8% with 1.3 breadth.
2. 577th day since the highs of 6338,301st day since the lows of 4531,33rd day since the swing highs of 6082.
Nifty closed above 5850 levels and was up for the 3rd consecutive day.Nifty has risen above 5850 faster than the fall it had from 5850-sub 5700 levels. Nifty may have started an impulsive upmove here.Or if it is a dead cat bounce, should retrace t0 5650 fairly fast by next week.If Nifty doesnot fall below 5800 and sustains around 5850-5900 levels for next few days, this is more likely an upmove with possible targets of 6100+ in coming days.This week's/Month's range is 215 points till today.
No comments:
Post a Comment