Nifty bounced from sub 6000 levels to close above 6050 with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.8% with 0.83 breadth.
2. 117th day since the lows of 5118, 69th day since the highs of 6342.
Nifty today bounced from 5984 level towards the end of session.Todays range was 72 points and Weekly/Monthly range stands at 173/122 points. On Weekly basis Nifty closed 0.25% in the red ie this was 7th week of downside from 6313. Nifty has completed 15 weeks in sideways movement between 6400-5950 levels. Any breakout from this range can give 400+ point move from the extremes.
1. Nifty up by 0.8% with 0.83 breadth.
2. 117th day since the lows of 5118, 69th day since the highs of 6342.
Nifty today bounced from 5984 level towards the end of session.Todays range was 72 points and Weekly/Monthly range stands at 173/122 points. On Weekly basis Nifty closed 0.25% in the red ie this was 7th week of downside from 6313. Nifty has completed 15 weeks in sideways movement between 6400-5950 levels. Any breakout from this range can give 400+ point move from the extremes.
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