Nifty dropped down below 6100 today with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 1.1% with 0.33 breadth.
2.27th day since the lows of 5690,41st since highs of 6338.
Nifty seems to have entered correction mode as today was 2nd down day.I expect this to be a short/intermediate term correction.As mentioned yesterday my possible targets will be 5850-5900 OR 5600-5700.But Incase Nifty bounces above 6150 in next 2 days then short term correction will be over(I dont expect this to be the case though). Next upside move could be the last move before Nifty undergoes medium term correction may be around next month.
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