Nifty opened gap up but slipped later amid high volumes and -ve breadth. Important points for today.
1. Nifty down by 0.25% with 0.75 breadth.
2. 148th day since the lows of 5118, 99th day since the highs of 6342, 76th day since the highs of 6415.
Nifty closed in the red today. Persistent divergence on hourly chart resulted in hourly correction in Nifty. Above 6675 levels, Nifty remains in uptrend. If 6675 is retained till Monday, 6800+ could be seen in Nifty by next week. Big upmove now looks less likely until Nifty undergoes deeper correction of 6500-. Today range and weekly range stands at 77/114 points.
1. Nifty down by 0.25% with 0.75 breadth.
2. 148th day since the lows of 5118, 99th day since the highs of 6342, 76th day since the highs of 6415.
Nifty closed in the red today. Persistent divergence on hourly chart resulted in hourly correction in Nifty. Above 6675 levels, Nifty remains in uptrend. If 6675 is retained till Monday, 6800+ could be seen in Nifty by next week. Big upmove now looks less likely until Nifty undergoes deeper correction of 6500-. Today range and weekly range stands at 77/114 points.
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