Nifty was struggling around 5200 levels with low volumes and -ve breadth. Important points for today.
1.Nifty down by 0.4% with 0.3 breadth.
2.250th day since the highs of 6338, 50th day since the lows of 4720.
Nifty moved in a range of 78 points.Today was 2ns consecutive closing below 5200 levels.Nifty is trading with -ve bias for last 2 weeks but the price action is showing slow descent.This indicates Nifty's lack of downside momentum and thus it is likely that Nifty may show a good bounce in the next few days.But since Nifty has taken 9 days of downside/sideways movement after 4 days move (5030-5399),so that upmove has good chance to be the last move.
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