Nifty was again rangebound today amid high volumes and -ve breadth. Important points for today.
1. Nifty up by 0.2% with 0.55 breadth.
2. 173rd day since the lows of 5118, 66th day since the lows of 5933.
Nifty closed mildly +ve and moved in 70 point range. last 2 days were inside days of Nifty, only indicating that further upside in Nifty are to come. ~7200 is trendline resistance for Nifty and 7020 is the gap support for Nifty. 7000-7300 is the range for Nifty tomorrow.A strong event could push Nifty further beyond 7300 but surviving above 7300 may be difficult unless momentum is very strong..Weekly/Monthly range stands at 310/520 points till today.
1. Nifty up by 0.2% with 0.55 breadth.
2. 173rd day since the lows of 5118, 66th day since the lows of 5933.
Nifty closed mildly +ve and moved in 70 point range. last 2 days were inside days of Nifty, only indicating that further upside in Nifty are to come. ~7200 is trendline resistance for Nifty and 7020 is the gap support for Nifty. 7000-7300 is the range for Nifty tomorrow.A strong event could push Nifty further beyond 7300 but surviving above 7300 may be difficult unless momentum is very strong..Weekly/Monthly range stands at 310/520 points till today.
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