Nifty moved down today with moderately high volumes and -ve breadth. Important points for today.
1. Nifty down by 1.3% with 0.33 breadth.
2. 248th day since the highs of 6338, 48th day since the lows of 4720.
Nifty closed closer to 5200 levels.Nifty is following 3 week pattern since the lows of 4720.This is the 11th week since lows of Aug26.If Nifty bounced above 5300-5400 next week, then I would expect that to be capitulation of upmove.Nifty's range in Nov till now is very low of about 125 points only.This is expected to expand in next week timeframe.
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