Nifty broke down below 4800 levels with moderately high volumes and -ve breadth. Important points for today.
1.Nifty down by 2.0% with 0.38 breadth.
2.129th day since the lows of 5177,195th day since the highs of 6338.
Nifty broke important level of 4800 intraday.Since 4700-4800 is important support level, I would look for Nifty's movement in this region to judge further direction.I see Nifty should pause/bounce from here and don't see further rout below 4800/4700 levels.With today's fall ,Nifty's monthly range is now 755 points and quarterly range is 944 points.
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