Nifty was in sideways range today with moderate volumes and -ve breadth.Important points for today.
1.Nifty up by 0.3% with 0.76 breadth.
2.3rd day since the highs of 5549.
Nifty moved within yesterday's range.The closing was positive but the breadth was -ve.Breadth in Nifty points to weakness.But Nifty has not yet broken the previous swing low of 5408/5416.Any break and close below these levels only will confirm the reversal of Nifty.Since these are critical levels, so break of these levels can see Nifty going down fast towards the next support levels at 5150-5200.Nifty's reversal if confirmed will make the coming 1-2 weeks very important since incase the reversal is also long term reversal then there could be a big fall also.
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