Nifty moved around 7950 today with high volumes and neutral breadth. Important points for today.
1. Nifty up by 0.25% with 0.8 breadth.
2. 245th day since the lows of 5118, 138th day since the lows of 5933.
Nifty closed above 7950 and was up by 0.6% on weekly basis. This was 3rd consecutive up week of Nifty. Daily trend remains +ve though Nifty find ing breaking the resistance at 7970 tough to break. Above 7850, Nifty remains in upmove , so if no gap up early next week(to 8000+) then Nifty may move down to gather momentum. Only decisive break below 7850, will put Nifty in downmove. August ended with range of 428 points and Quarterly range stands at 546 points.
1. Nifty up by 0.25% with 0.8 breadth.
2. 245th day since the lows of 5118, 138th day since the lows of 5933.
Nifty closed above 7950 and was up by 0.6% on weekly basis. This was 3rd consecutive up week of Nifty. Daily trend remains +ve though Nifty find ing breaking the resistance at 7970 tough to break. Above 7850, Nifty remains in upmove , so if no gap up early next week(to 8000+) then Nifty may move down to gather momentum. Only decisive break below 7850, will put Nifty in downmove. August ended with range of 428 points and Quarterly range stands at 546 points.
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