Nifty had a selloff today in the 2nd half with higher volumes and -ve breadth. Important points for today.
1.Nifty down by 2.3% with .07 breadth.
2.9th day since the lows of 5690 and 23rd day since the highs of 6338.
Nifty was sideways till noon but after that selloff started and Nifty closed below 5800 with very -ve breadth.2 days in a row Nifty has been down with very -ve breadth.Todays breadth is pointing to breadth capitulation but the price action does not tell so.Nearest support is at 5550 and major support at 5200.I expect Nifty to take rebound from support levels in next few days.If Nifty rebounds from ~5500 levels, I would keep the option of Nifty going back to 5200 levels open unless 6100-6150 is taken out.
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