Nifty was sideways in a narrow range with low volumes and neutral breadth.Important points for today.
1.Nifty down by 0.25% with 1.1 breadth.
2.14th day since 6181,53rd day since the highs of 6338.
Nifty moved in a narrow range of 43 points.This week,Nifty's range was very small of 123 points as compared to 300/268 in previous 2 weeks.So /i expect range expansion in next weeks as this weeks compression was more than 50%.Nifty is undergoing sideways movement after 6 days slide from 6181 -5700 levels.I would expect another slide down before the move from 6181 gets over.But Nifty could stay in this range of 5600-5900 for some more time also before starting the slide.On medium term,I see the correction that started from 6338 is still not over.I expect 5350/5200 as the minimum levels for the medium term correction to capitulate or be over.
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