Nifty was flat with -ve bias and moderate volumes and neutral breadth. Important points for today.
1. Nifty flat with 0.55 breadth.
2. 328th day since the highs of 6338, 54th day since the lows of 4531,11th day since the swing highs of 5629.
Nifty dipped below 5200 early in the trade but recovered later on to close flat.Nifty is hovering around support area now.Since Nifty is in clear downtrend for 11 days now, so further deep downside should be possible with fresh momentum only ans for that Nifty may need a pause now.Nifty may either enter daily or weekly pause mode here OR (less likely) Nifty may form a bottom around here and attempt new highs above 5629 levels.Monthly range stands at 221 points till today
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