Nifty slide further down with low volumes and -ve breadth. Important points for
today.
1.Nifty down by 1.9% with 0.4 breadth.
2.253rd day since the highs of 6338,53rd day since the lows of 4720.
Nifty was down for 6th consecutive day.Nifty has nearly reversed gains of 3 weeks in the last 3 weeks.The downmove that I expected came early.Nifty shud take support now at 4800+ before pausing for few days in next week.After expiry Nifty is likely to make a new low below 4700.Given the slide Nifty has experienced in last 12 days, I think breach of 4700 shud be marginal only.Nov range stands at 407 points till today.
No comments:
Post a Comment