Nifty consolidated yesterday's gain with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.2% with 1.4 breadth.
2. 441st day since the lows of 4531, 30th day since the swing lows of 5118, 14th day since the swing highs of 6142.
Nifty closed above 6000 levels for 2nd consecutive day. Today was narrow range day of 54 points only. Weekly/Monthly range is 208/333 points. Nifty is making a diagonal triangle on daily charts in this upmove from 5700 indicating that steep fall may happen now. But if Nifty closes above 6050 level for next 2 days then this will be negated and Nifty will head for 6200+/6300.
1. Nifty up by 0.2% with 1.4 breadth.
2. 441st day since the lows of 4531, 30th day since the swing lows of 5118, 14th day since the swing highs of 6142.
Nifty closed above 6000 levels for 2nd consecutive day. Today was narrow range day of 54 points only. Weekly/Monthly range is 208/333 points. Nifty is making a diagonal triangle on daily charts in this upmove from 5700 indicating that steep fall may happen now. But if Nifty closes above 6050 level for next 2 days then this will be negated and Nifty will head for 6200+/6300.
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