Nifty was ranged today with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.3% with 1.85 breadth.
2. 205th day since the lows of 5118, 98th day since the lows of 5933.
Nifty now testing the resistance zone around 7650+. Today's range was only 31 points. Unless Nifty gaps up above 7700 level and stays above to generate genuine breakout, Nifty may keep wandering between 7550-7700 till around budget waiting for a trigger to make a move. Without an impulsive move, any breach of 7700 is likely to face a retreat.
1. Nifty up by 0.3% with 1.85 breadth.
2. 205th day since the lows of 5118, 98th day since the lows of 5933.
Nifty now testing the resistance zone around 7650+. Today's range was only 31 points. Unless Nifty gaps up above 7700 level and stays above to generate genuine breakout, Nifty may keep wandering between 7550-7700 till around budget waiting for a trigger to make a move. Without an impulsive move, any breach of 7700 is likely to face a retreat.
No comments:
Post a Comment