Nifty traded down today with moderate volumes and neutral breadth.Important points for today.
1.Nifty down by 0.5% with 0.78 breadth.
2.114th day since the lows of 5177,180th day since the highs of 6338,68th day since the swing highs of 5906,27th day since the swing lows of 5195.
Nifty closed below 5550 today.Last 2 days Nifty has reversed the gains of 2 days prior to that.For a deeper fall,Nifty shud fall big on friday/monday,If not then Nifty may be Just capitulating in its sideways move before it moves up.Nifty's monthly range till today is 244 points compared to 450 in previous 2 months.This is significant range compression,so next month ie August shud see range expansion in Nifty.
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