Nifty today went below 6150 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.4% with 1.0 breadth.
2. 449th day since the lows of 4531, 38th day since the swing lows of 5118.
Nifty closed below 6200 levels today. Since last 3 days Nifty is hovering around 6200 levels. This looks like consolidation of big move of Last friday unless Nifty breaks and closes below Friday's low of 6070. Nifty broke the 6140-6150 support level(earlier Resistance is now Support) but bounced back soon. So If Nifty dips again below 6140, then 6050 is the next support being the trendline support (trendline from 5118). Weekly range is 104 points , While Monthly range remains same at 520 points with 6 days to go in this month.
1. Nifty down by 0.4% with 1.0 breadth.
2. 449th day since the lows of 4531, 38th day since the swing lows of 5118.
Nifty closed below 6200 levels today. Since last 3 days Nifty is hovering around 6200 levels. This looks like consolidation of big move of Last friday unless Nifty breaks and closes below Friday's low of 6070. Nifty broke the 6140-6150 support level(earlier Resistance is now Support) but bounced back soon. So If Nifty dips again below 6140, then 6050 is the next support being the trendline support (trendline from 5118). Weekly range is 104 points , While Monthly range remains same at 520 points with 6 days to go in this month.
No comments:
Post a Comment