Nifty drifted down moderately today with low volumes and -ve breadth. Important points for today.
1.Nifty down by 0.85% with 0.6 breadth.
2.70th day since the lows of 5177,136th day since the highs of 6338.
3.23rd day since the swing highs of 5906.
Nifty closed below 5350 today.Nifty has closed below the previous week low on all 3 days of this week.A bigger cut is likely in the next 2 days.I expect Nifty to drop below 5200 by friday.But the pace of the fall till now lacks the momentum,so any momentum fall now ,will likely be a capitulating fall.
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