Nifty gave up all the gains of yesterday to close below 7900 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 1.25% with 0.36 breadth.
2. 271st day since the lows of 5118, 164th day since the lows of 5933.
Nifty closed the week with a loss of 1.1% with a range of 157 points. Nifty despite all negative momentum survived 7800 level till now for 3 weeks. Next week should see some decisive move. If 7800 is breached , Nifty is in for medium term correction but if Nifty bounces back and stays above 7950 level then new highs likely to be seen before Diwali. Monthly range till now stands at 162 points.
1. Nifty down by 1.25% with 0.36 breadth.
2. 271st day since the lows of 5118, 164th day since the lows of 5933.
Nifty closed the week with a loss of 1.1% with a range of 157 points. Nifty despite all negative momentum survived 7800 level till now for 3 weeks. Next week should see some decisive move. If 7800 is breached , Nifty is in for medium term correction but if Nifty bounces back and stays above 7950 level then new highs likely to be seen before Diwali. Monthly range till now stands at 162 points.
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