Nifty moved sideways today with low volumes and -ve breadth. Important points for today.
1.Nifty up by 0.1% with 0.78 breadth.
2.5th day since the highs of 5549.
Nifty briefly went below 5400 but was mostly confined in 5400-5450 range for rest of the day.Volumes were low and its likely a pause in the downside.Nifty should cut below 5350 levels and take support at 5150-5200 levels in the next few days inorder to maintain the downside momentum.I don't expect Nifty to be in sideways range above 5350.So this week should likely be a bigger cut than last week.
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