Nifty fell down below 5100 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 2.25% with 0.4 breadth.
2. 303rd day since the highs of 6338, 28th day since the lows of 4531.
Nifty has reversed from important resistance levels of 5200+. After remaining in upmove for many days, Nifty has made a sharp fall.This to me indicates that reattempt at recent highs of 5200+ will be attempted again in coming days.Nifty has likely entered short term correction for few days and I expect Nifty to trade in 5000-5300 range for few days now.
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