Nifty was in narrow range again with -ve breadth and low volumes.Closing was above 5ema and this weekly closing is also the monthly closing,so important to see cloing for this week for further cues.Important points for today.
1.Nifty down by 0.3% with 0.6 breadth.
2.1st down day after 5 days of upmove.
Wave4/Wave5 Options are still open and this week's closing should give some cues about the path ahead.Though this week's closing being also monthly closing,so I anticipate this week's closing to be above 5249(March monthly closing) though it can be below 5304. ie this week's closing.On the Other hand if Nifty closes above 5350 on weekly, then its likely to be Wave5 in that case.
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