Nifty gapped down below 5450 but recovered later and moved in about 100 point range with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 0.1% with 0.58 breadth.
2.19th day since 6181,58th day since the highs of 6338.
Nifty gapped down and moved closer to 5400 levels but managed to close above 5500 levels.Today was 4th consecutive down day for Nifty.5400-5450 is providing support to Nifty,So I don't expect this level to be breached decisively now after 2 days of trying to break through.Nifty should possible try again to breach 5400 levels and if the momentum slows down on breach of 5400 then Nifty may likely form an Intermediate bottom between 5300-5450 levels.
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