#NIFTY View on the 25th of April.

We again saw the Index moving up to new heights on low volume. We saw a gap up opening and a below average spread Bar closing at the top scaling new height. The volume was less than average. Clearly the sellers stayed away and it was easy to markup the market. At the same time it is also clear that Demand too was lukewarm as indicated by the low volume.  Obviously the index reaching new heights on poor quality demand does not augur a continued up move.  So it a time to tread carefully as sustaining the current up thrust to new heights is going to be very difficult.  Levels 9220 and 9175 would come into play as active support levels. Next couple of session would be interesting to watch. One thing is certain that the NIFTY is poised to explore new historical levels.