Nifty consolidated the gains amid moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.5% with 1.1 breadth.
2. 454th day since the lows of 4531, 43rd day since the swing lows of 5118, 20th day since the swing lows of 5700.
Nifty closed above 6250 levels. Any strength above 6280 should take Nifty to 6400 in next coming days. Trendline joining 6111-6229 comes ~ @6400, so that is next significant resistance for Nifty to encounter if it gets past 6280 level. Unless there is some trigger to take Nifty to higher levels, there is no strong momentum at these levels now. Todays range was 47 points and weekly/monthly range stand at 190/569 points.
1. Nifty up by 0.5% with 1.1 breadth.
2. 454th day since the lows of 4531, 43rd day since the swing lows of 5118, 20th day since the swing lows of 5700.
Nifty closed above 6250 levels. Any strength above 6280 should take Nifty to 6400 in next coming days. Trendline joining 6111-6229 comes ~ @6400, so that is next significant resistance for Nifty to encounter if it gets past 6280 level. Unless there is some trigger to take Nifty to higher levels, there is no strong momentum at these levels now. Todays range was 47 points and weekly/monthly range stand at 190/569 points.
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