Nifty traded sideways today with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.25% with 0.65 breadth.
2. 267th day since the lows of 5118, 160th day since the lows of 5933.
Nifty moved in 41 point range today and ended the week with a loss of 0.3%. Weekly range was 107 points. Since May, Nifty has not traded in Red for more than 2 weeks. So next week will be crucial and if Nifty breaks down below 7900 and closes the week below it , then Nifty may have entered into medium term consolidation pattern. But if Nifty revives above 8000, then Nifty may make new highs in sudden manner. October is high range month and exhibits high volatility, so expect to see 7500/8500 in this month.
1. Nifty down by 0.25% with 0.65 breadth.
2. 267th day since the lows of 5118, 160th day since the lows of 5933.
Nifty moved in 41 point range today and ended the week with a loss of 0.3%. Weekly range was 107 points. Since May, Nifty has not traded in Red for more than 2 weeks. So next week will be crucial and if Nifty breaks down below 7900 and closes the week below it , then Nifty may have entered into medium term consolidation pattern. But if Nifty revives above 8000, then Nifty may make new highs in sudden manner. October is high range month and exhibits high volatility, so expect to see 7500/8500 in this month.
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