Nifty was again rangebound today in 57 points with higher volumes and neutral breadth. Important points for today.
1. Nifty up by 0.2% with 1.1 breadth.
2. 289th day since the lows of 5118, 181st day since the lows of 5933.
Nifty closed above 8350 level though yesterday's high were not breached. Nifty is inching up into resistance zone of 8400-8450. Today was 6th day since Nifty broke through 8180 level. Look for fast Pullback from 8400+ levels in next few days for around 8200 levels. Only if Nifty goes past and closes above 8400 for 2 consecutive days will indicate further strength in Nifty. Monthly range remains at 93 points till today.
1. Nifty up by 0.2% with 1.1 breadth.
2. 289th day since the lows of 5118, 181st day since the lows of 5933.
Nifty closed above 8350 level though yesterday's high were not breached. Nifty is inching up into resistance zone of 8400-8450. Today was 6th day since Nifty broke through 8180 level. Look for fast Pullback from 8400+ levels in next few days for around 8200 levels. Only if Nifty goes past and closes above 8400 for 2 consecutive days will indicate further strength in Nifty. Monthly range remains at 93 points till today.
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