Nifty traded in about 50 point range with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 0.2% with 1.15 breadth.
2. 203rd day since the lows of 5118, 96th day since the lows of 5933.
Nifty closed the week above 7500 but slightly in the red. This was 3rd consecutive down week of Nifty.Weekly range was 152 points. 7500 is acting as support of Nifty for 3rd time now. Bounce from here is expected from here early next week to 7700+ . Strength of Nifty above 7700 to determine further upmove. But if Nifty stays below 7500 next week then deeper cut to 7200-7300 may come by end of next week.
1. Nifty up by 0.2% with 1.15 breadth.
2. 203rd day since the lows of 5118, 96th day since the lows of 5933.
Nifty closed the week above 7500 but slightly in the red. This was 3rd consecutive down week of Nifty.Weekly range was 152 points. 7500 is acting as support of Nifty for 3rd time now. Bounce from here is expected from here early next week to 7700+ . Strength of Nifty above 7700 to determine further upmove. But if Nifty stays below 7500 next week then deeper cut to 7200-7300 may come by end of next week.
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