Nifty again dropped below 5700 but closed just above it with low volumes and -ve breadth. Important points for today.
1.Nifty down by 0.85% with 0.46 breadth.
2.53rd day since the lows of 5177,119th day since the highs of 6338.
Nifty is at the lower end of it range at 5700.Today was 6th consecutive down day.I expect a drop to around 5600 before a bounce could happen incase of bull scenario.But if Nifty does not bounce in the next few days to close above 5800, then this could be the medium term reversal headed much lower.
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