Nifty opened gap up above 5550 and sustained that with higher volumes and +ve breadth. Important points for today.
1. Nifty up by 2.8% with 2.3 breadth.
2. 701st day since the highs of 6338, 419th day since the lows of 4531.
Nifty once again crossed 5550 level but bumped into the 5600 resistance zone. Today's range was narrow at just 73 points though Nifty jumped by 154 points. Nifty has crossed the 262 point fall in about less time indicating impulsive character of this upmove. If this is true ,Nifty should follow up tomorrow with further gains. Next significant resistance after 5600 comes at 5950 level, so next upmove could be quite swift. This week/month's range stands at 307 points till today.
1. Nifty up by 2.8% with 2.3 breadth.
2. 701st day since the highs of 6338, 419th day since the lows of 4531.
Nifty once again crossed 5550 level but bumped into the 5600 resistance zone. Today's range was narrow at just 73 points though Nifty jumped by 154 points. Nifty has crossed the 262 point fall in about less time indicating impulsive character of this upmove. If this is true ,Nifty should follow up tomorrow with further gains. Next significant resistance after 5600 comes at 5950 level, so next upmove could be quite swift. This week/month's range stands at 307 points till today.
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