Nifty opened above 8350 levels but gave up the gains trading with higher volumes and neutral breadth. Important points for today.
1. Nifty up by 0.1% with 1.0 breadth.
2. 288th day since the lows of 5118, 180th day since the lows of 5933.
Nifty closed just above previous close. Nifty's range was 79 points today. 8350-8400 is acting as good resistance for Nifty though trendline resistance stands at 8400+. Nifty is having shallow Pullbacks from 8350+ levels. Unless Nifty crosses 8400-8450 with strong momentum, this zone will give pullback of 150-200 points on downside.. Nifty remains in uptrend till 8200 is retained on closing basis. Monthly range stands at 93 points till today.
1. Nifty up by 0.1% with 1.0 breadth.
2. 288th day since the lows of 5118, 180th day since the lows of 5933.
Nifty closed just above previous close. Nifty's range was 79 points today. 8350-8400 is acting as good resistance for Nifty though trendline resistance stands at 8400+. Nifty is having shallow Pullbacks from 8350+ levels. Unless Nifty crosses 8400-8450 with strong momentum, this zone will give pullback of 150-200 points on downside.. Nifty remains in uptrend till 8200 is retained on closing basis. Monthly range stands at 93 points till today.
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