Nifty traded with +ve bias lower volumes and neutral breadth. Important points for today.
1. Nifty up by 0.7% with 1.1 breadth.
2.618th day since the highs of 6338, 341st day since the lows of 4531.
Nifty went past 6100 today and closed just below it. Nifty is bumping into resistance zone now so a correction could happen any time now. Nifty has retraced the 11 week fall in just 4 weeks. This indicates that upside momentum in Nifty is very strong. With saturdays trading day, Nifty's monthly range now stands at 204 points and weekly range at 186 points. Yearly range is 637 points now. January highs of 6111 has been taken out by Nifty.
1. Nifty up by 0.7% with 1.1 breadth.
2.618th day since the highs of 6338, 341st day since the lows of 4531.
Nifty went past 6100 today and closed just below it. Nifty is bumping into resistance zone now so a correction could happen any time now. Nifty has retraced the 11 week fall in just 4 weeks. This indicates that upside momentum in Nifty is very strong. With saturdays trading day, Nifty's monthly range now stands at 204 points and weekly range at 186 points. Yearly range is 637 points now. January highs of 6111 has been taken out by Nifty.
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