Nifty continued its slow descent with low volumes and -ve breadth. Important points for the day.
1.Nifty down by 0.6% with 0.35 breadth.
2.87th day since the lows of 5177,153rd day since the highs of 6338,40th day since the swing highs of 5906.
Nifty closed below 5400 for the 2nd day.Nifty can crack down from here if this is an impulsive move or still Nifty may keep sliding down and then pick up momentum in an impulsive manner.Beacuse of the time taken till now since the swing highs of 5906, I don't expect a Major cut in Nifty ie not below 4700-4800.My expectations are for Nifty to drop down below 5000 levels and create capitulation.
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