Nifty moved in a narrow range and closed flat with low volumes and +ve breadth. Important points for today.
1.Nifty flat with 1.6 breadth.
2.73rd day since the lows of 5177,139th day since the highs of 6338,26th day since the swing highs of 5906.
Nifty was flat today and moved in a very narrow range of 51 points.There could be few more days of narrow range movement before Nifty breaks probably on the downside.Close below 5400 will open the downside risk.
Monthly range for May is 451 points,and for this Quarter is 616 points till now.So another 300-400 point range expansion for this Quarter can be expected to happen in the month of June.That could lead to sub 5000 levels on the Nifty.
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