Dec8 Update

Nifty gapped down and drifted below 5900 with moderate volumes and -ve breadth. Important points for today.

1.Nifty down by 1.2% with 0.15 breadth.
2.8th day since the lows of 5690 and 22nd day since the highs of 6338.

Nifty was down for 4th consecutive day with very -ve breadth.Nifty's closing below daily 5ema low,indicates that if this is correction of the 380 point rise from 5690, then it should be over Else if the fall continues then Nifty would likely make new low below 5690.On the downside 5200 is a major support for Nifty though 5350-5550 are also support zones.