Nifty gapped down on open but recovered later on.Volumes were high and breadth -ve.Important points for today.
1.Nifty down by 0.1% with 0.8 breadth.
2.3rd consecutive down day after 54 days of rally from 4786(33 days of downturn).
Nifty broke below 5400 today.On Intraday basis,the levels have been broken indicating that Nifty may have reversed from its rally.Closing basis confirmation though is still needed.If Nifty has started its downturn,then today was the 3rd day of the downturn and Nifty should target its potential or near potential target within ~20 days ie till about 3rd september.Tomorrow's Weekly closing will be important to see how Nifty closes.
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