Nifty dropped further below 6450 but bounced back with moderate volumes and -ve breadth. Important points for today.
1. Nifty up by 0.2% with 0.7 breadth.
2. 136th day since the lows of 5118, 88th day since the highs of 6342, 64th day since the highs of 6415.
Nifty found support at lower 6400 levels to bounce back above 6500. Todays range was 86 points and Weekly/Monthly range stands at 130/350 points. After previous week range of 325 points , this week has compressed a lot at only 130 points. Nifty trades at above 6400 level since 7 days but after breakout, momentum above 6500 is not seen.Daily momentum remains positive and new highs above 6562 should be seen early next week.
1. Nifty up by 0.2% with 0.7 breadth.
2. 136th day since the lows of 5118, 88th day since the highs of 6342, 64th day since the highs of 6415.
Nifty found support at lower 6400 levels to bounce back above 6500. Todays range was 86 points and Weekly/Monthly range stands at 130/350 points. After previous week range of 325 points , this week has compressed a lot at only 130 points. Nifty trades at above 6400 level since 7 days but after breakout, momentum above 6500 is not seen.Daily momentum remains positive and new highs above 6562 should be seen early next week.
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