Nifty moved in about 70 point range with low volumes and neutral breadth. Important points for today.
1.Nifty down by 0.5% with 1.0 breadth.
2.283rd day since the highs of 6338,8th day since the lows of 4531.
Nifty ended the week about 2% down.Nifty made a new weekly closing low.Nifty closing indicates signs of breakdown.Next week ,I expect Nifty to drop down big if this week's closing is real breakdown, But if Nifty just hovers around 4500-4700 levels then this is capitulation of Nifty and Nifty is likely to bounce big in coming weeks.Range for this year comes out to 1660.Previous year range was 1663.
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