Thursday, January 6, 2011

Jan6 Update

Nifty dropped down further below 6050 with moderate volumes and -ve breadth.Important points for today.

1.Nifty down by 0.5% with 0.35 breadth.
2.28th day since the lows of 5690,42nd day since the highs of 6338.

Nifty closed below 6050 for 3rd consecutive day.Nifty's slide could continue till about next week.I have no definite clue till now whether this correction would be deep or not but I expect that the next leg of upside will go above the current highs of 6181.

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