Nifty cracked below 5200 with moderately high volumes and -ve breadth. Important points for today.
1.Nifty down by 1.0% with 0.3 breadth.
2.249th day since the highs of 6338, 49th day since the lows of 4720.
Nifty closed below 5200 on weekly basis with 2nd consecutive down week.Nifty after making a breakout high of 5399 has not reattempted that level yet.Nifty is hovering around support here and there is a decent chance of a good bounce from here, possibly upto 5400+.Nifty's move at/above 5400 shud tell whether revisit to 4700 will come or not.So next 1-2 weeks ie upto expiry shud be +ve bias.This months range till now is 184 points.
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