Nifty was sideways with -ve bias with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 1.0% with 0.35 breadth.
2. 342nd day since the highs of 6338, 68th day since the lows of 4531, 25th day since the swing highs of 5629.
Nifty is hovering around 5200 support levels for few days now and has taken support at 5150+ levels. Short term bounce to 5300-5400 is due now.But if the bounce falters in the resistance zone, then Nifty may head to new lows below 4500 in a sharp move.Only move above 5400 should make a bull case for Nifty going further up.
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