Nifty had a selloff with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 1.65% with 0.15 breadth.
2.18th day since 6181,57th day since the highs of 6338.
Nifty was down for 3rd consecutive day and breached 5500 levels.Downside momentum looks strong.Nearest support comes in at 5350 and then at 5200 levels.I would expect Nifty to test these support levels before the downtrend ends.But any bounce that may come will likely indicate the potential downside of Nifty in this slide.This week should likely see Nifty making an intermediate bottom given the number of days(18) that Nifty has taken in its slide from 6181.
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