Nifty traded sideways today with moderate volumes and neutral breadth. Important points for today.
1. Nifty flat with 1.0 breadth.
2. 437th day since the lows of 4531, 26th day since the swing lows of 5118, 9th day since the swing highs of 6142.
Nifty closed flat after moving in 65 point range. 5950 is the falling trendline resistance joining 6229-6093. Nifty moved past this resistance line on 19th sept but fell back very next day, so this resistance is not yet been taken out. If Nifty were to fail here then 5700-5500 are the support zones Nifty is likely to target. Weekly/Monthly range stands at 250 points.
1. Nifty flat with 1.0 breadth.
2. 437th day since the lows of 4531, 26th day since the swing lows of 5118, 9th day since the swing highs of 6142.
Nifty closed flat after moving in 65 point range. 5950 is the falling trendline resistance joining 6229-6093. Nifty moved past this resistance line on 19th sept but fell back very next day, so this resistance is not yet been taken out. If Nifty were to fail here then 5700-5500 are the support zones Nifty is likely to target. Weekly/Monthly range stands at 250 points.
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