Nifty drifted down again and closed below 5500 levels with low volumes and -ve breadth.Important points for today.
1.Nifty down by 1.1% with 0.3 breadth.
2.118th day since the lows of 5177,184th day since the highs of 6338,72nd day since the swing highs of 5906,31st day since the swing lows of 5195.
Nifty's high today was below 5500 indicating that Nifty is weak.This weakness could trigger a sharp slide down in Nifty in next few days.Nifty bouncing from here looks less likely to me.Next couple of days should set the tone for Nifty outside of the sideways range of 5450-5750.
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