Nifty dropped below 5250 with higher volumes and -ve breadth.Important points for today.
1.Nifty down by 1.1% with 0.16 breadth.
2.26th day since 6181,65th day since the highs of 6338.
Nifty continued its slide and closed just above 5250.Nifty is going down but the price momentum is waning with the fall.Nifty is nearing important support levels of 5150-5200 levels.Nifty should likely capitulate in next few days.If a bounce happens from 5200 ,Nifty could again go down to 5100 levels after the bounce.But If Nifty drops down to 5100 levels now, then I expect an Intermediate bottom formation that could last for few weeks.
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