Nifty dipped all day today to close near low with high volumes and -ve breadth. Important points for today.
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1. Nifty down by 1.6% with 0.3 breadth.
2. 262nd day since the lows of 5118, 155th day since the lows of 5933.
Nifty closed near lower 8000 today amid bearish breadth and higher volumes. On Downside, 7750+ is trendline support line from Feb'14, that is increasing each day. 8200 on upside and 7750-7800 on downside is broad trading range of Nifty. Nifty is consolidating with an upward slope since spike of May'14, so breakout is more likely in coming days. Todays range was 141 points and weekly/monthly range stands at 141/255 points.
+
1. Nifty down by 1.6% with 0.3 breadth.
2. 262nd day since the lows of 5118, 155th day since the lows of 5933.
Nifty closed near lower 8000 today amid bearish breadth and higher volumes. On Downside, 7750+ is trendline support line from Feb'14, that is increasing each day. 8200 on upside and 7750-7800 on downside is broad trading range of Nifty. Nifty is consolidating with an upward slope since spike of May'14, so breakout is more likely in coming days. Todays range was 141 points and weekly/monthly range stands at 141/255 points.
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