Nifty today moved further up with moderate volumes and _ve breadth. Important points for today.
1. Nifty up by 0.5% with 1.4 breadth.
2. 129th day since the lows of 5118, 81st day since the highs of 6342, 57th day since the highs of 6415.
Nifty closed above 6300 level today with range of 49 points. Weekly/Monthly range now stands at 124 points.Today was 22nd day since the lows of 5933. Nifty has almost retraced the fall from 6355-5933. Since the rise is slow, so only strength above 6350 will indicate bullish behaviour and ~6350 is resistance point from where Nifty has resisted 4 times in last 4 months. On bearish note, If Nifty falls and closes below 6200, then futher fall may happen.
1. Nifty up by 0.5% with 1.4 breadth.
2. 129th day since the lows of 5118, 81st day since the highs of 6342, 57th day since the highs of 6415.
Nifty closed above 6300 level today with range of 49 points. Weekly/Monthly range now stands at 124 points.Today was 22nd day since the lows of 5933. Nifty has almost retraced the fall from 6355-5933. Since the rise is slow, so only strength above 6350 will indicate bullish behaviour and ~6350 is resistance point from where Nifty has resisted 4 times in last 4 months. On bearish note, If Nifty falls and closes below 6200, then futher fall may happen.
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