Nifty broke 6100 levels but recovered with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.15% with 1.0 breadth.
2. 104th day since the lows of 5118, 56th day since the highs of 6342.
Nifty tested 6100 levels and dipped below it but closed above 6100 levels. It broke the lows of December of 6129 and closed below it.Todays range was 78 points and Weekly/Monthly range now stands at 103/273 points. Bull scenario is possible only on a close above 6200 levels. Right Now Nifty is showing +ve divergence and bounce is very likely. Gap exists @6262-6188 , gap test is likely to happen before expiry.
1. Nifty down by 0.15% with 1.0 breadth.
2. 104th day since the lows of 5118, 56th day since the highs of 6342.
Nifty tested 6100 levels and dipped below it but closed above 6100 levels. It broke the lows of December of 6129 and closed below it.Todays range was 78 points and Weekly/Monthly range now stands at 103/273 points. Bull scenario is possible only on a close above 6200 levels. Right Now Nifty is showing +ve divergence and bounce is very likely. Gap exists @6262-6188 , gap test is likely to happen before expiry.
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