Nifty dropped down below 5400 levels with low volumes and -ve breadth. Important points for today.
1.Nifty down by 1.4% with 0.47 breadth.
2.25th day since the lows of 5177,91st day since the highs of 6338.
Nifty closed below 5400 levels today.Today was 2nd consecutive -ve weekly closing.Nifty has broken the range of 5400-5600 today on the downside but the downward momentum was not there today.If there is a follow up downside move on Monday then Nifty would likely move to around 5000 levels.Else If Nifty moves up from here, then today's move is capitulation move of the sideways action of 10 days and the upside will begin with possible targets of 5700-5800.
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