Nifty moved around 7450 with lower volumes and -ve breadth. Important points for the day.
1.Nifty down by 0.05% with 0.7 breadth.
2. 214th day since the lows of 5118, 107th day since the lows of 5933.
Nifty moved in 56 point range today and made a low below 7441 but closed above it. 7440 connects a trendline joining 6562 -6752. So @7440 , there is horizontal support as well as trendline support.If Nifty does not close below 7440 , then reversal may happen from here. On the contrary , breach may take Nifty towards 7200 level.Monthly range now stands at 386 points.
1.Nifty down by 0.05% with 0.7 breadth.
2. 214th day since the lows of 5118, 107th day since the lows of 5933.
Nifty moved in 56 point range today and made a low below 7441 but closed above it. 7440 connects a trendline joining 6562 -6752. So @7440 , there is horizontal support as well as trendline support.If Nifty does not close below 7440 , then reversal may happen from here. On the contrary , breach may take Nifty towards 7200 level.Monthly range now stands at 386 points.
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