Nifty cracked down below 5100 levels but closed above it with moderate volumes and -ve breadth.Important points for today.
1.Nifty down by 1.8% with 0.23 breadth.
2.122nd day since the lows of 5177,188th day since the highs of 6338,76th day since the swing highs of 5906,35th day since the swing lows of 5195.
Nifty closed below the important level of 5200 and previous medium term low of 5177.Nifty's downside momentum looks moderate to me indicating that further fall may be limited.Today was 10th day since the swing highs of 5702 and 5th consecutive down day.5300-5350 should act as resistance on any bounce while on downside strong support comes in around 4700-4800.
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