Nifty opened gap up but gave up the gains later to close mildly in the green with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.35% with 1.2 breadth.
2. 439th day since the lows of 4531, 28th day since the swing lows of 5118, 12th day since the swing highs of 6142.
Nifty opened up above 5950 but could not survive and closed below it. Nifty is getting resisted at 5950 again. If Nifty goes below 5825, yesterdays low again then 5700 is likely to give up and next main support will come at 5500. Since Nifty has taken resistance at 5950, 3 times now any further weakness may result in sudden slide to lower support level of 5500. Today's range was 68 points. Weekly/Monthly range now stand at 156/281 points.
1. Nifty up by 0.35% with 1.2 breadth.
2. 439th day since the lows of 4531, 28th day since the swing lows of 5118, 12th day since the swing highs of 6142.
Nifty opened up above 5950 but could not survive and closed below it. Nifty is getting resisted at 5950 again. If Nifty goes below 5825, yesterdays low again then 5700 is likely to give up and next main support will come at 5500. Since Nifty has taken resistance at 5950, 3 times now any further weakness may result in sudden slide to lower support level of 5500. Today's range was 68 points. Weekly/Monthly range now stand at 156/281 points.
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