Nifty made a new high above 7700 today with higher volumes and +ve breadth. Important points for today.
1. Nifty up by 1.2% with 1.75 breadth.
2. 206th day since the lows of 5118, 99th day since the lows of 5933.
Nifty closed above 7700 today. Todays range was 55 points though Nifty closed 91 points above yesterdays close. Upward momentum is waning in Nifty. 7650 is critical support level now. Low range intraday range alongwith upside movement in Nifty with waning momentum indicates that Nifty may topping in Short term and may undergo good correction in coming days.
1. Nifty up by 1.2% with 1.75 breadth.
2. 206th day since the lows of 5118, 99th day since the lows of 5933.
Nifty closed above 7700 today. Todays range was 55 points though Nifty closed 91 points above yesterdays close. Upward momentum is waning in Nifty. 7650 is critical support level now. Low range intraday range alongwith upside movement in Nifty with waning momentum indicates that Nifty may topping in Short term and may undergo good correction in coming days.
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