Nifty gapped down and fell strongly all through the day to close below 5300 levels with high volumes(though expiry day) and -ve breadth.Important points for today.
1.Nifty down by 3.25% with 0.165 breadth.
2.10th day since the lows of 5177,76th day since the highs of 6338.
Nifty had a big down day.Todays range was 181 points.So Nifty heading down towards previous low of 5177 and below are possible in 1-3 days.I don't expect 5000 levels to give away in this down momentum move though.Todays range was very big and that indicates either this was capitulation move of the last 5 days of sideways/choppy correction OR this is retest of the lows of 5177(possible break or no break).
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