Nifty moved in a narrow range with lower volumes and mild -ve breadth. Important points for today.
1. Nifty up by 0.2% with 0.74 breadth.
2. 708th day since the highs of 6338, 426th day since the lows of 4531.
Nifty again closed at 5850 level after moving in a 150 point range. Since last 5 days nifty is moving in 150 points between 5800-5950. Last Bullish Bar is still maintained, indicating that this is likely a consolidation before next upmove rather than reversal. But Gap of 5700 should be retained for keeping the bullish hopes alive. On Upside 5957 is the level , crossing of which will indicate new impulsive move has started. Today was an inside day so Weekly range remains at 159 points.
1. Nifty up by 0.2% with 0.74 breadth.
2. 708th day since the highs of 6338, 426th day since the lows of 4531.
Nifty again closed at 5850 level after moving in a 150 point range. Since last 5 days nifty is moving in 150 points between 5800-5950. Last Bullish Bar is still maintained, indicating that this is likely a consolidation before next upmove rather than reversal. But Gap of 5700 should be retained for keeping the bullish hopes alive. On Upside 5957 is the level , crossing of which will indicate new impulsive move has started. Today was an inside day so Weekly range remains at 159 points.
No comments:
Post a Comment