Nifty continued with its slide and closed below 5750 levels with moderate volumes and -ve breadth. Important points for today.
1.Nifty down by 1.7% with 0.41 breadth.
2.44th day since the lows of 5177,110th day since the highs of 6338.
Nifty was down for the 2nd consecutive day and closed below the previous swing low of 5735.I think Nifty has opened itself up for further fall upto 5450-5600 levels in next few days.Short term Nifty has turned down and medium term trend is also down.
Timewise Nifty is approaching at an important Juncture in the next 2-3weeks and I expect that Nifty could make a durable medium term bottom in this downfall.
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