Nifty drifted down and broke the lows of previous two days with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 0.75% with 0.55 breadth.
2.99th day since the lows of 4786.
3.29th day since the previous swing low of 5350.
Nifty moved in 6050-6150 range today and closed in the middle of the range.Yesterdays move thus was small bounce after short term capitulation of two days fall.Today's fall may have one more down leg left, probably for a close below the lows of 6057.I expect a bounce from hereon after this correction.But if the fall is big trend reversal,price action should increase with subsequent fall in Nifty.
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