Nifty moved up gradually all day with moderate volumes and +ve breadth to close above 7850. Important points for today.
1. Nifty up by 1.05% with 2.6 breadth.
2. 237th day since the lows of 5118, 130th day since the lows of 5933.
Nifty closed above 7850 today and was up for the 5th consecutive day. Today was new high for Nifty. Nifty has reversed the fall from 7840-7540 is just 5 days. 7950-8050 is the rising trendline resistance for Nifty. Momentum is +ve but doesn't look strong enough to breakout above trendline resistance at 8050.
1. Nifty up by 1.05% with 2.6 breadth.
2. 237th day since the lows of 5118, 130th day since the lows of 5933.
Nifty closed above 7850 today and was up for the 5th consecutive day. Today was new high for Nifty. Nifty has reversed the fall from 7840-7540 is just 5 days. 7950-8050 is the rising trendline resistance for Nifty. Momentum is +ve but doesn't look strong enough to breakout above trendline resistance at 8050.
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