Nifty moved in a big range today with broad selloff amid higher volumes and -ve breadth. Important points for today.
1. Nifty down by 2.5% with 0.4 breadth.
2. 338th day since the highs of 6338, 64th day since the lows of 4531, 21st day since the swing highs of 5629.
Nifty dropped down below 5250 levels today.Tomorrow's weekly closing looks like is going to be 5th consecutive down close.That would point to broad weakness in Nifty on weekly scale.Any bounce from here looks unlikely to go past 5600+ levels.And lower levels look more likely in the weeks to come.
No comments:
Post a Comment