Nifty moved in a very narrow range of 49 points with low volumes and neutral breadth. Important points for today.
1.Nifty up by 0.4% with 1.4 breadth.
2.60th day since the lows of 5177,126th day since the highs of 6338.
Nifty closed in the green today but volumes were very low and breadth modest.Since today was 4th day of sideways move and big compression day after a 9 day fall,I expect the main trend to start now ,ie downtrend in 1-2 days.Since 5400-5200 are established support zones,so only a momentum move(unexpected event ) can trigger a bigger fall of sub 5200 levels.Any gradual move is likely to be resisted in the strong support zone of 5200-5400.
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