Nifty continued with its selloff and went below 5750 with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 2.4% with 0.15 breadth.
2.30th day since the lows of 5690,44th since the highs of 6338.
Nifty closed below 5800 around the previous lows.Downside Momentum is very strong in Nifty.My expectation is that Nifty could pause here and then continue its slide OR it may continue till the level it gets a bounce.After todays move I favour Nifty would likely slide down to below 5690 level before pausing/bouncing.The bounce would tell whether the low made is a bottom or it would be revisited!My expected levels are 5600-5700.
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