Nifty slide down below 5300 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 1.1% with 0.45 breadth.
2. 335th day since the highs of 6338,61st day since the lows of 4531,18th day since the swing highs of 5629.
Nifty remained under pressure and closed below 5300.Nifty's slide since last 3 days is seeing decreasing volume.So it's likely that Nifty may get support around previous support levels of ~5150 +- 100 points.There is likelihood of Nifty having reversed downwards medium term.Month end closing is likely to confirm the medium term trend of Nifty.Monthly and quarterly range as of today stand at 328 and 1041 points.
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