Nifty reversed the gains of yesterday with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 1.9% with 0.54 breadth.
2.8th day since 6181,37th since lows of 5690,47th since highs of 6338.
Nifty reversed yesterdays gain and was inside yesterdays range.This indicates that the short term consolidation of Nifty will continue.Nifty would likely move towards 5900 levels in coming days before starting a new leg down.My downside targets are ~5600 levels,though the character of new leg down could indicate more downside also.
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