Feb8 Update

Nifty opened above 5400 but slipped thereafter to 5300 levels with moderate volumes and -ve breadth.Important points for today.

1.Nifty down by 1.5% with 0.17 breadth.
2.25th day since 6181,64th day since highs of 6338.

Nifty closed just above 5300.The downside move since friday is not a sideways move but a down impulsive move.This move may be capitulating move also which we may know in next few days.I would expect Nifty to keep sliding down if this is the capitulating move of the Nifty.