Nifty slide down with very low volumes and slightly -ve breadth. Important points for today.
1.Nifty down by 0.2% with 0.6 breadth.
2.237th day since the highs of 6338, 37th day since the lows of 4720.
Nifty's volume is drying up on downside.This indicates that Nifty should make atleast one more upmove above 5200.I am skeptical about upside now given the time Nifty has taken, but if Nifty goes beyond 5200 with good volumes (12k+), then Nifty could stay above 5200 for sometime.Next is Diwali week and Diwali is a turning point for our markets.
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