Nifty tanked further below 4600 with low volumes and -ve breadth. Important points for today.
1.Nifty down by 0.85% with 0.25 breadth.
2. 274th day since the highs of 6338, 33rd day since the swing highs of 5399.
Nifty breached 4600 levels today but recovered to close above it.Today was 8th day from the swing highs of 5099.Nifty has reached inflection point here, since Nifty has breached 4700 levels convincingly now but has not cracked big below it. If Nifty stays @4500 levels for lows in this week, then that could very well be the Medium term lows of Nifty.December range is 544 points,quarterly range is 844 points and yearly range is 1626 points till today.
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