Nifty bounced strongly to close above 6750 with higher volumes and +ve breadth. Important points for today.
1. Nifty up by 1.5% with 2.25 breadth.
2. 156th day since the lows of 5118, 49th day since the lows of 5933.
Nifty again bounced from around 6650 levels to close near 6800 levels. If Nifty closes above 6800 levels and sustains then higher levels may come without any correction but 6800 is a resistance and correction may set in from here for 6650- levels also. Weekly range was 148 points and Monthly range till now is 169 points. Monthly range is expected to expand in remaining 7 days in either direction.
1. Nifty up by 1.5% with 2.25 breadth.
2. 156th day since the lows of 5118, 49th day since the lows of 5933.
Nifty again bounced from around 6650 levels to close near 6800 levels. If Nifty closes above 6800 levels and sustains then higher levels may come without any correction but 6800 is a resistance and correction may set in from here for 6650- levels also. Weekly range was 148 points and Monthly range till now is 169 points. Monthly range is expected to expand in remaining 7 days in either direction.
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