Nifty pushed up towards 5750 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.8% with 1.2 breadth.
2. 686th day since the highs of 6338, 404th day since the lows of 4531.
Nifty closed in the green for the 4th consecutive day.Nifty's ascend faces resistance from trendline joining 2009 lows and Dec2011 lows at ~ 5800+ levels. Unless Nifty pushes through this resistance with bang, some pause can be expected in its ascend in next 1-2 days as it moves up. Weekly range is 197 points till today while Monthly and Quarterly range remain same @ 322 points.
1. Nifty up by 0.8% with 1.2 breadth.
2. 686th day since the highs of 6338, 404th day since the lows of 4531.
Nifty closed in the green for the 4th consecutive day.Nifty's ascend faces resistance from trendline joining 2009 lows and Dec2011 lows at ~ 5800+ levels. Unless Nifty pushes through this resistance with bang, some pause can be expected in its ascend in next 1-2 days as it moves up. Weekly range is 197 points till today while Monthly and Quarterly range remain same @ 322 points.
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