Nifty cracked below 5600 today with high volumes and -ve breadth. Important points for today.
1.Nifty down by 2.4% with 0.2 breadth.
2.54th day since the lows of 5177, 120th day since the highs of 6338.
Nifty closed below important support of 5600 today.Downside momentum is good and Nifty is likely to go to next support of 5350-5400 OR 5200.Today was 7th consecutive down day.So Nifty should likely bottom out in this fall in next 2-3 days.Nifty is now in medium term downtrend ie the main trend, so the momentum is expected to be good in this fall being in the direction of main trend.
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