Nifty had mini selloff today with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.9% with 0.33 breadth.
2. 97th day since the lows of 5118, 74th day since the lows of 5700.
Nifty closed below 6300 today and range was 81 points. Nifty closed up by 1.5% on weekly basis. Weekly/Monthly range was 157/219 points. Weekly range for last 4 weeks have been 65-187-100-157 points. Monthly range expansion is likely in next 2 weeks, so 6139/6358 is likely to be breached. 100-200 points in the direction of breach may happen sharply after breach. so 5950/6550 levels may be seen in this month.
1. Nifty down by 0.9% with 0.33 breadth.
2. 97th day since the lows of 5118, 74th day since the lows of 5700.
Nifty closed below 6300 today and range was 81 points. Nifty closed up by 1.5% on weekly basis. Weekly/Monthly range was 157/219 points. Weekly range for last 4 weeks have been 65-187-100-157 points. Monthly range expansion is likely in next 2 weeks, so 6139/6358 is likely to be breached. 100-200 points in the direction of breach may happen sharply after breach. so 5950/6550 levels may be seen in this month.
No comments:
Post a Comment