Nifty slipped further towards 7800 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.1% with 0.77 breadth.
2. 269th day since the lows of 5118, 162nd day since the lows of 5933.
Nifty traded in 54 point range and closed below 7850 levels. Nifty recovered towards the end to close marginally in the red. Nifty took support at trendline connecting 5933-6638. If recovery sustains and Nifty closes above 7950 in next couple of days then bottom formation at 7800 may be done and new highs may come soon. Weekly/Monthly range now stands at 128/162 points.
1. Nifty down by 0.1% with 0.77 breadth.
2. 269th day since the lows of 5118, 162nd day since the lows of 5933.
Nifty traded in 54 point range and closed below 7850 levels. Nifty recovered towards the end to close marginally in the red. Nifty took support at trendline connecting 5933-6638. If recovery sustains and Nifty closes above 7950 in next couple of days then bottom formation at 7800 may be done and new highs may come soon. Weekly/Monthly range now stands at 128/162 points.
No comments:
Post a Comment