Nifty inched up towards 7800 level with higher volumes and neutral breadth. Important points for today.
1. Nifty up by 0.5% with 1.0 breadth.
2. 209th day since the lows of 5118, 102nd day since the lows of 5933.
Nifty moved in a range of 37 points and closed below 7800 levels. Nifty has stayed above 7700 levels for 4 days now. Around 7800 level is inflection point for Nifty and 7650 is immediate support and 7500 strong support level. Nifty exhibits divergence on daily scale. In Medium term Nifty is headed higher but short term could see deeper correction if 7650 gives away.
1. Nifty up by 0.5% with 1.0 breadth.
2. 209th day since the lows of 5118, 102nd day since the lows of 5933.
Nifty moved in a range of 37 points and closed below 7800 levels. Nifty has stayed above 7700 levels for 4 days now. Around 7800 level is inflection point for Nifty and 7650 is immediate support and 7500 strong support level. Nifty exhibits divergence on daily scale. In Medium term Nifty is headed higher but short term could see deeper correction if 7650 gives away.
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