Nifty slid sharply below 4900 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 1.6% with 0.44 breadth.
2. 268th day since the highs of 6338,27th day since the swing highs of 5399,11th day since the lows of 4639.
Nifty has retraced sharply in the last 2 days nearly 60% of the advance from 4639-5099.If the downside momentum sustains then Nifty could again retest/breach 4639 next week.Overall I expect Nifty to remain in sideways consolidation for 3 weeks in december.
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