Nifty moved around 5900 today with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.25% with 1.8 breadth.
2. 704th day since the highs of 6338, 422nd day since the lows of 4531.
Nifty moved in 92 point range and closed above 5900 levels. Nifty is in 5900-6000 strong resistance zone and likely to move sideways/correction in coming days before next move becomes clear. Around 5700 is good support of Nifty if it undergoes deep correction, below that is 5500 levels. This week/months range now stands at 186/606 points. Shallow correction to 5750-5800 will indicate Nifty will move higher above 6000 levels.
1. Nifty up by 0.25% with 1.8 breadth.
2. 704th day since the highs of 6338, 422nd day since the lows of 4531.
Nifty moved in 92 point range and closed above 5900 levels. Nifty is in 5900-6000 strong resistance zone and likely to move sideways/correction in coming days before next move becomes clear. Around 5700 is good support of Nifty if it undergoes deep correction, below that is 5500 levels. This week/months range now stands at 186/606 points. Shallow correction to 5750-5800 will indicate Nifty will move higher above 6000 levels.
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