Nifty had a mixed day today with higher volumes and neutral breadth. Important points for today.
1. Nifty up by 0.05% with 0.9 breadth.
2. 266th day since the lows of 5118, 159th day since the lows of 5933.
Nifty opened +ve and went past 8000 levels but gave up the gains later and settled nearly flat on closing. Today's range was 107 points and Monthly range ended at 339 points. Quarterly range was 758 points. Next few days will clear up the monthly direction of Nifty. If Nifty goes below 7800, then Nifty may be entering into medium term consolidation range else if 7900(closing) is retained for another 2-3 days then Nifty may spike up to new highs soon.
1. Nifty up by 0.05% with 0.9 breadth.
2. 266th day since the lows of 5118, 159th day since the lows of 5933.
Nifty opened +ve and went past 8000 levels but gave up the gains later and settled nearly flat on closing. Today's range was 107 points and Monthly range ended at 339 points. Quarterly range was 758 points. Next few days will clear up the monthly direction of Nifty. If Nifty goes below 7800, then Nifty may be entering into medium term consolidation range else if 7900(closing) is retained for another 2-3 days then Nifty may spike up to new highs soon.
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