Nifty crossed the previous highs and close above them with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 1.4% with 0.9 breadth.
2. 141st day since the lows of 5118, 92nd day since the highs of 6342, 69th day since the highs of 6415, 34th day since the lows of 5933.
Nifty closed above previous week high of 6574. Nifty has given a mini breakout here, and it should tread higher till about 6650 levels soon, Now if Nifty slides back to 6500- level then deeper correction may begin in Nifty. 6650-6700 is rising trendline resistance likely to produce deeper correction. Todays range was 81 points and Monthly/Quarterly range now stands at 379/658 points.
1. Nifty up by 1.4% with 0.9 breadth.
2. 141st day since the lows of 5118, 92nd day since the highs of 6342, 69th day since the highs of 6415, 34th day since the lows of 5933.
Nifty closed above previous week high of 6574. Nifty has given a mini breakout here, and it should tread higher till about 6650 levels soon, Now if Nifty slides back to 6500- level then deeper correction may begin in Nifty. 6650-6700 is rising trendline resistance likely to produce deeper correction. Todays range was 81 points and Monthly/Quarterly range now stands at 379/658 points.
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