Nifty opened with a gap above 8050 and retained it with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 0.8% with 1.3 breadth.
2. 282nd day since the lows of 5118, 174th day since the lows of 5933.
Nifty closed just below 8100 level and retained the morning gap up. This was 3rd gap of this upmove from 7723. Today was 8th day from lows of 7723. Nifty has retraced nearly 80% of the fall from 8180-7723. This is inflection point and Nifty should give 200-300 point move in either direction from here and upmove looks more likely if Nifty retains 8000 level for another 2 days. Monthly range stands at 374 points till today and weekly range is 112 points.
1. Nifty up by 0.8% with 1.3 breadth.
2. 282nd day since the lows of 5118, 174th day since the lows of 5933.
Nifty closed just below 8100 level and retained the morning gap up. This was 3rd gap of this upmove from 7723. Today was 8th day from lows of 7723. Nifty has retraced nearly 80% of the fall from 8180-7723. This is inflection point and Nifty should give 200-300 point move in either direction from here and upmove looks more likely if Nifty retains 8000 level for another 2 days. Monthly range stands at 374 points till today and weekly range is 112 points.
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