Nifty tested lower 5500 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.75% with 1.15 breadth.
2. 601st day since the highs of 6338, 325th day since the lows of 4531.
Nifty closed above 5550 today. Nifty is likely to take support in this zone of 5400-5450 but retest of those levels may happen again.5200-5400 zone is the key support zone of Nifty ,so if weakness persists Nifty may test lower levels of this range over next 1 month or so. But if Nifty sustains above 5750-5800 levels , then Nifty has a chance of upside reversal.
1. Nifty up by 0.75% with 1.15 breadth.
2. 601st day since the highs of 6338, 325th day since the lows of 4531.
Nifty closed above 5550 today. Nifty is likely to take support in this zone of 5400-5450 but retest of those levels may happen again.5200-5400 zone is the key support zone of Nifty ,so if weakness persists Nifty may test lower levels of this range over next 1 month or so. But if Nifty sustains above 5750-5800 levels , then Nifty has a chance of upside reversal.
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