Nifty drifted down below 5900 with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 0.9% with 0.35 breadth.
2.13th day since the lows of 5690,27th day since the highs of 6338.
Nifty closed below 5900 .The move since 5690 is corrective in nature.If Nifty is starting its new leg down, then it should move with momentum below 5690 else if Nifty moves down for 1-2 days to around 5700 & then bounces then Nifty will likely head towards 6100+.On the downside,I consider strong support at 5200 though 5350-5550 also act as support areas.
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