Nifty failed to cross 6200 levels and came down with high volumes and -ve breadth.Important points for today.
1.Nifty down by 1.1% with 0.52 breadth.
2.96th day since the lows of 4786.
3.26th day since the lows of 5350.
Nifty corrected moderately today.Todays closing was below the 5ema,so short term capitulation is over or nearly over(by tomorrow).So I expect Nifty to bounce from here towards 6300+ levels.But if this correction deepens and continues below 6000 then this could be the medium term reversal of the Nifty with confirmation on hourly and daily close below previous low of 5963.
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