Nifty moved further up above 7750 level with moderate volumes and neutral breadth. Important points for today.
1. Nifty up by 1.1% with 0.95 breadth.
2. 220th day since the lows of 5118, 113th day since the lows of 5933.
Nifty was up for the 6th consecutive day and closed above 7750 level. Todays range was 69 points and weekly range stands at 99 points. Nifty is trying to make its way through resistance zone of 7750+. 7650 and 7550 are the 2 support levels for Nifty to support the upmove. Breach of these two levels may take Nifty to 7400-. Upside momentum in Nifty is not strong, so on breakout above 7800, 1-3% move may be possible.
1. Nifty up by 1.1% with 0.95 breadth.
2. 220th day since the lows of 5118, 113th day since the lows of 5933.
Nifty was up for the 6th consecutive day and closed above 7750 level. Todays range was 69 points and weekly range stands at 99 points. Nifty is trying to make its way through resistance zone of 7750+. 7650 and 7550 are the 2 support levels for Nifty to support the upmove. Breach of these two levels may take Nifty to 7400-. Upside momentum in Nifty is not strong, so on breakout above 7800, 1-3% move may be possible.
No comments:
Post a Comment