Nifty reversed 50% of yesterdays loss with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 2.0% with 1.75 breadth.
2. 700th day since the highs of 6338, 418th day since the lows of 4531.
Nifty went past 5450 but closed marginally below that reversing half of yesterday's loss. Todays range was 142 points. Nifty dipped marginally below yesterdays low and powered up and sustained 5400 levels throughout the day indicating some power is there in this leg.if Nifty sustains above 5450 for couple of hours then 5550-5600 should come soon again. It will be 3rd time then for Nifty to face 5550 resistance and chances of breaking it will be higher.
1. Nifty up by 2.0% with 1.75 breadth.
2. 700th day since the highs of 6338, 418th day since the lows of 4531.
Nifty went past 5450 but closed marginally below that reversing half of yesterday's loss. Todays range was 142 points. Nifty dipped marginally below yesterdays low and powered up and sustained 5400 levels throughout the day indicating some power is there in this leg.if Nifty sustains above 5450 for couple of hours then 5550-5600 should come soon again. It will be 3rd time then for Nifty to face 5550 resistance and chances of breaking it will be higher.
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