Nifty moved around 6150 in narrow range with lower volumes and -ve breadth. Important points for today.
1. Nifty down by 0.3% with 0.58 breadth.
2. 451st day since the lows of 4531, 40th day since the swing lows of 5118, 17th day of the upmove from lows of 5700.
Nifty closed the week with a loss of 0.75%. If Nifty retains 6100 levels early next week then 6300 could come soon, else if Nifty goes below 6070 then Nifty has reversed from 6252 levels and headed down. Downside support exists at 6050-6070-> 5930->5790->5690->5550 levels. This week's range was 136 points and monthly range is 552 points.
1. Nifty down by 0.3% with 0.58 breadth.
2. 451st day since the lows of 4531, 40th day since the swing lows of 5118, 17th day of the upmove from lows of 5700.
Nifty closed the week with a loss of 0.75%. If Nifty retains 6100 levels early next week then 6300 could come soon, else if Nifty goes below 6070 then Nifty has reversed from 6252 levels and headed down. Downside support exists at 6050-6070-> 5930->5790->5690->5550 levels. This week's range was 136 points and monthly range is 552 points.
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