Nifty traded around 6500 before dipping below yesterdays low with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.65% with 0.63 breadth.
2. 139th day since the lows of 5118, 90th day since the highs of 6342, 67th day since the highs of 6415.
Nifty closed below 6500 today though volume was less today. Nifty trades in sideways range after upmove of 350 points in 1st week of march. So this sideways move should resolve itself on upside with possible upside of about 100-150 points from 6560. This week's range is 101 points till today. Nifty's upside momentum is waning and any weak upmove may be concluding move of the rally from 5933/5984!!
1. Nifty down by 0.65% with 0.63 breadth.
2. 139th day since the lows of 5118, 90th day since the highs of 6342, 67th day since the highs of 6415.
Nifty closed below 6500 today though volume was less today. Nifty trades in sideways range after upmove of 350 points in 1st week of march. So this sideways move should resolve itself on upside with possible upside of about 100-150 points from 6560. This week's range is 101 points till today. Nifty's upside momentum is waning and any weak upmove may be concluding move of the rally from 5933/5984!!
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