Nifty dipped to around 5300 levels but recovered to close above 5400 with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.25% with 1.0 breadth.
2. 689th day since the highs of 6338, 407th day since the lows of 4531.
Nifty recovered from the early morning lows of 5300 with neutral breadth. 5300 is the trendline support of Nifty. Nifty has recovered from 5360/5300 in last 2 days and closed above 5400 . This only implies that Nifty is finding some support at lower levels around 5300. This could be a medium term support or short term support will be known in coming days.But bounce looks probable from here. Todays range was 111 points. Monthly/Quarterly/Yearly range now stands at 502/787/923 points.
1. Nifty down by 0.25% with 1.0 breadth.
2. 689th day since the highs of 6338, 407th day since the lows of 4531.
Nifty recovered from the early morning lows of 5300 with neutral breadth. 5300 is the trendline support of Nifty. Nifty has recovered from 5360/5300 in last 2 days and closed above 5400 . This only implies that Nifty is finding some support at lower levels around 5300. This could be a medium term support or short term support will be known in coming days.But bounce looks probable from here. Todays range was 111 points. Monthly/Quarterly/Yearly range now stands at 502/787/923 points.
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