Nifty reversed two day's gain today and closed below 5600 levels with moderately high volumes and -ve breadth. Important points for today.
1.Nifty down by 1.9% with 0.4 breadth.
2.113th day since the lows of 5177,179th day since the highs of 6338,67th day since the swing highs of 5906,26th day since the swing lows of 5195.
Nifty dropped sharply today.Last 3 days Nifty has moved sharply(up/down) but within the range.Nifty is preparing itself for a move in either direction.A move past the upper/lower band shall tell where Nifty intends to go.To me short term Nifty is in sideways while medium term trend remains down.
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