Nifty. Bounced up strongly with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 2.2% with 1.4 breadth.
2. 602nd day since the highs of 6338, 326th day since the lows of 4531.
Nifty powered its way to a close above 5650.This bounce could be dead cat bounce or upside reversal. 5800-5850 is the first critical resistance zone and 6000+ should clear the way for 6300+. Nifty has been in downtrend for last 11 weeks, so even retracement rally could last for few weeks.
1. Nifty up by 2.2% with 1.4 breadth.
2. 602nd day since the highs of 6338, 326th day since the lows of 4531.
Nifty powered its way to a close above 5650.This bounce could be dead cat bounce or upside reversal. 5800-5850 is the first critical resistance zone and 6000+ should clear the way for 6300+. Nifty has been in downtrend for last 11 weeks, so even retracement rally could last for few weeks.
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