Nifty opened gap up and traded strong +ve all day with moderate volumes and +ve breadth. Important points for today.
1. Nifty up by 1.5% with 3.4 breadth.
2. 270th day since the lows of 5118, 163rd day since the lows of 5933.
Nifty was strong today and closed above 7950. Today was gap up indicating strength in Nifty and close was also +ve above 7950 level. Today's range was 86 points. Nifty has bounced off from trendline support of 5933-6638. This was 3rd touch on this line and the bounce can be stronger than expectations. Around 8350-8400 is the channel resistance of Nifty, in which it is trading since 5 months. Monthly range remains at 162 points till today.
1. Nifty up by 1.5% with 3.4 breadth.
2. 270th day since the lows of 5118, 163rd day since the lows of 5933.
Nifty was strong today and closed above 7950. Today was gap up indicating strength in Nifty and close was also +ve above 7950 level. Today's range was 86 points. Nifty has bounced off from trendline support of 5933-6638. This was 3rd touch on this line and the bounce can be stronger than expectations. Around 8350-8400 is the channel resistance of Nifty, in which it is trading since 5 months. Monthly range remains at 162 points till today.
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