Nifty was sideways today with lower volumes and neutral breadth. Important points for today.
1.Nifty down by 0.9% with 1.3 breadth.
2.259th day since the highs of 6338.
Nifty moved in 74 point range and closed just above 4700 weekly.This was 4th consecutive down week.Nifty is pausing here and may have some more steam left on downside for next week, though I expect it to be not below 4500 levels.But if Nifty bounces and closes above 4900 in next few days, then 4639 is likely a medium term bottom.This week's range was 234 points after 391 points previous week.
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