Nifty went down below 6350 amide higher volumes and -ve breadth. Important points for today.
1. Nifty down by 0.5% with 0.44 breadth.
2. 70th day since the lows of 5118, 47th day since the lows of 5700.
Nifty closed below 6350 today.Unless Nifty closes above 6363 tomorrow, it may have entered short term correction with possible target of 6250-6275 on downside before rising again. Nifty's significant resistance exist in the 6450-6500 zone. Today's range was 55 points and weekly/monthly range now stands at 108/266 points. Looking from Range perspective , there may be pullback from around 6500 levels that could last till mid of january.
1. Nifty down by 0.5% with 0.44 breadth.
2. 70th day since the lows of 5118, 47th day since the lows of 5700.
Nifty closed below 6350 today.Unless Nifty closes above 6363 tomorrow, it may have entered short term correction with possible target of 6250-6275 on downside before rising again. Nifty's significant resistance exist in the 6450-6500 zone. Today's range was 55 points and weekly/monthly range now stands at 108/266 points. Looking from Range perspective , there may be pullback from around 6500 levels that could last till mid of january.
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