Nifty continues its upmove with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.9% with 1.7 breadth.
2. 606th day since the highs of 6338, 329th day since the lows of 4531.
Nifty has retraced about 60% of the fall from 6100-5500 levels. If this is dead cat bounce Nifty may go down after facing resistance at 5850+ levels. But if Nifty has momentum , then there could be a pause and a again upsurge to 6000+ levels. Next few days of this week should give clue about the nature of this upmove of Nifty. April is 367 points in range till today and yearly range is 634 points till today.
1. Nifty up by 0.9% with 1.7 breadth.
2. 606th day since the highs of 6338, 329th day since the lows of 4531.
Nifty has retraced about 60% of the fall from 6100-5500 levels. If this is dead cat bounce Nifty may go down after facing resistance at 5850+ levels. But if Nifty has momentum , then there could be a pause and a again upsurge to 6000+ levels. Next few days of this week should give clue about the nature of this upmove of Nifty. April is 367 points in range till today and yearly range is 634 points till today.
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