Nifty May try to break range

On upside closing above 5670-5700 is crucial. While on downside 5630-5600 is crucial. SAR is also at 5600. On upside hurdle is at 5740.

Nifty in a range

Nifty has not been able to cross 5700 on EOD basis. But still holds 5630-50 range. Weakness below this range. Nifty SAR is at 5570 and BankNifty SAR at 10942.

Nifty at 52 Week High

Nifty closed at 52 Week High at 5691. It climbed past 61.8% retracement (5654) convincingly. Next immediate target to cross will be July'11 High of 5740 and then 5950 area i.e Apr'11 high & 78.6% level.

 

Nifty bounces from the trendline today

A closing above 5630-5650 will give the thrust to achieve new highs.