Nifty moved towards its last resistance of 7800 with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.7% with 1.5 breadth.
2. 236th day since the lows of 5118, 129th day since the lows of 5933.
Nifty closed just below 7800 levels . 85% retracement of fall is done in 4 days. Momentum is +ve +ve but muted , so new highs above 7840 should be slow and small. Channel resistance stands at around 8000-8050. Monthly range stands at 256 points till now.Quarterly range is 418 points.
1. Nifty up by 0.7% with 1.5 breadth.
2. 236th day since the lows of 5118, 129th day since the lows of 5933.
Nifty closed just below 7800 levels . 85% retracement of fall is done in 4 days. Momentum is +ve +ve but muted , so new highs above 7840 should be slow and small. Channel resistance stands at around 8000-8050. Monthly range stands at 256 points till now.Quarterly range is 418 points.
No comments:
Post a Comment