Nifty traded with -ve bias with low volumes and neutral breadth. Important points for today.
1. Nifty down by 0.4% with 1.0 breadth.
2. 595th day since the highs of 6338, 319th day since the lows of 4531.
Nifty broke the lows of 5548 and closed the week with a loss of 2.3%. This was 10th week since the reversal from 6111. Nifty has retraced the 10 week ascent from 5548 to 6111 in 10 weeks.I am not clear on the further direction of Nifty as Nifty's descent is slowing and it could be end of long consolidation or 1st leg of downturn. This week's range was 217 points
1. Nifty down by 0.4% with 1.0 breadth.
2. 595th day since the highs of 6338, 319th day since the lows of 4531.
Nifty broke the lows of 5548 and closed the week with a loss of 2.3%. This was 10th week since the reversal from 6111. Nifty has retraced the 10 week ascent from 5548 to 6111 in 10 weeks.I am not clear on the further direction of Nifty as Nifty's descent is slowing and it could be end of long consolidation or 1st leg of downturn. This week's range was 217 points
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