Nifty moved up for 2nd consecutive day with moderately high volumes and +ve breadth. Important points for today.
1. Nifty up by 1.3% with 3.2 breadth.
2. 216th day since the lows of 5118, 109th day since the lows of 5933.
Nifty closed above 7600 levels today an ranged 108 points. Weekly/Monthly range stand at 218/386 points till today. Nifty has firmly crossed 7550 ie first resistance level. 7700-7750 is the next significant resistance above 7650 level. Unless Nifty crosses 7750 with a momentum move, Nifty may undergo selloff near 7700-7750 level. if Nifty makes a new high , it may not go beyond 7900-8000 level.
1. Nifty up by 1.3% with 3.2 breadth.
2. 216th day since the lows of 5118, 109th day since the lows of 5933.
Nifty closed above 7600 levels today an ranged 108 points. Weekly/Monthly range stand at 218/386 points till today. Nifty has firmly crossed 7550 ie first resistance level. 7700-7750 is the next significant resistance above 7650 level. Unless Nifty crosses 7750 with a momentum move, Nifty may undergo selloff near 7700-7750 level. if Nifty makes a new high , it may not go beyond 7900-8000 level.
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