Nifty wavered around 5400 levels with high volumes but closed below 5400 levels. Important points for today.
1. Nifty down by 0.6% with 0.8 breadth.
2. 312th day since the highs of 6338, 37th day since the lows of 4531.
Nifty closed in the green for the 6th consecutive week.This week's range was 125 points.Narrow range Top is indicator of Short term Top.There is good chance that Nifty may enter into pause/correction mode now with 5200 as the base support.I expect that medium term Top of Nifty should be there around mid march timezone, after which Nifty may begin its impulsive downmove to new lows.
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