Nifty gapped up and went above 6050 but later retraced below 6000 levels with low volumes and -ve breadth.Important points for today.
1.Nifty flat closing with 0.7 breadth.
2.6th day since the low of 5690 and 20th day since the highs of 6338.
Nifty retraced all the gains of morning and closed below 6000 levels.Nifty retraced from 60% level ie ~6080 indicating resistance at that point.I expect Nifty to attempt that level again and close above it for the capitulating move.If Nifty reverses from around 6100 level in next few days,I expect that the move on downside could be very sharp and 5690 may be taken out in 1-2 days.Weakness below 5950/5850 will be critical for further downsides.
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