Nifty drifted further down today with low volumes and -ve breadth. Important points for today.
1.Nifty down by 1% with 0.55 breadth.
2.10th day(8+2) since the lows of 4786.
Nifty extended its downmove today.The low volume selloff of 2 days does not show any big momentum as of now.So if this is the correction of the upmove to 5100 levels,Nifty should bounce upwards towards the end of week to 5100+ levels.Incase Nifty remains in this 4900-5000 range till the end of week,then this could well be the new downmove in the Nifty.But the Oscillators are showing +ve divergences on this correction,so I am inclined towards this as a correction.
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