Nifty drifted down today with higher volumes and -ve breadth.Important points for today.
1.Nifty down by 0.6% with 0.6 breadth.
2.59/5th day since the highs of 5492(After 33 days of downturn).
Nifty broke Fridays low and closed below it indicating bearishness.Breach of previous swing low of 5372 will likely take Nifty to ~5200 levels.I expect this to happen in next 1-3 days.Nifty can either bounce up from 5200 OR keep going low.The momentum in next 2-3 days will decide how is Nifty likely to react on/near 5200.
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