Nifty climbed up towards 5500 levels with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 1.15% with 2.0 breadth.
2. 692nd day since the highs of 6338,410th day since the lows of 4531.
Nifty closed higher for the 2nd day. Nifty closed near the highs of the week. Short term bottom may be in around 5300 levels. Nifty's weekly range was 250 points even though it witnessed single day range of 236 points. This is unusual in the sense that Nifty witnessed extreme volatility by having 100+ range on all 5 days yet its weekly range was 250 points only. This is divergence between daily and weekly ranges. Probability of prices going higher from here have increased.
1. Nifty up by 1.15% with 2.0 breadth.
2. 692nd day since the highs of 6338,410th day since the lows of 4531.
Nifty closed higher for the 2nd day. Nifty closed near the highs of the week. Short term bottom may be in around 5300 levels. Nifty's weekly range was 250 points even though it witnessed single day range of 236 points. This is unusual in the sense that Nifty witnessed extreme volatility by having 100+ range on all 5 days yet its weekly range was 250 points only. This is divergence between daily and weekly ranges. Probability of prices going higher from here have increased.
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