Nifty drifted down today amid higher volumes and neutral breadth. Important points for today.
1. Nifty down by 0.25% with 1.1 breadth.
2. 252nd day since the lows of 5118, 145th day since the lows of 5933.
Nifty ended the day mildly in the red though it closed above 8150. Today's range was 48 points only and was an inside day. Weekly range for this week stands at 54 points till today and monthly range is 196 points. September is a high range month, so 400+ is expected in this month atleast. Nifty remains is upward bias but upside momentum is low and needs pullback to push higher at every resistance.8150-8200 is upper channel resistance.
1. Nifty down by 0.25% with 1.1 breadth.
2. 252nd day since the lows of 5118, 145th day since the lows of 5933.
Nifty ended the day mildly in the red though it closed above 8150. Today's range was 48 points only and was an inside day. Weekly range for this week stands at 54 points till today and monthly range is 196 points. September is a high range month, so 400+ is expected in this month atleast. Nifty remains is upward bias but upside momentum is low and needs pullback to push higher at every resistance.8150-8200 is upper channel resistance.
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