Nifty reversed yesterdays move breaking the fridays low of 5863 with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 1.3% with 0.26 breadth.
2.128th day since the lows of 4786,11th day since the highs of 6338.
Niftys selloff today indicates that yesterdays move was a dead cat bounce and lower levels are ahead.Nifty may move in and around 5800-5900 for few days.I expect there should be one final push down with momentum that should result in capitulation.My expected levels are from 5400-5700.Though I am also ready for downside surpises.
No comments:
Post a Comment