Nifty made a big swing today breaking below 5200 levels with lower volumes and -ve breadth. Important points for today.
1. Nifty down by 1.75% with 0.3 breadth.
2. 358th day since the highs of 6338, 84th day since the lows of 4531, 41st day since swing highs of 5629.
Nifty had a volatile day today but managed to close at 5200 levels. Close below previous low of 5135 levels would indicate Nifty has broken down and is headed down. Range for this month stands at 193 points till today.Range expansion looks likely on downside but may happen after expiry.This is 10th week since the highs in mid Feb.Next 2-3 weeks should likely see medium term low in Nifty if Nifty is breaking down from here.
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