Nifty came down below 5100 levels with low volumes and -ve breadth. Important points for today.
1.Nifty down by 1.6% with 0.17 breadth.
2.251st day since the highs of 6338, 51st day since the lows of 4720.
Nifty closed below 5100 today.Earlier swing low was 5033/5049 after which Nifty jumped 350 points during Diwali week.I expect this zone could again provide support to Nifty for a decent bounce.I don't think Nifty has capitulated in its upmove from 4700 levels, so upmove is expected which may or maynot form a high above 5400 though.Nifty's monthly range till today stands at 274 points.
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