Nifty was in a ranged move in 90 point range with lower volumes and neutral breadth. Important points for today.
1. Nifty down by 0.2% with 0.8 breadth.
2. 371st day since the highs of 6338, 97th day since the lows of 4531, 54th day since the swing highs of 5629.
Nifty closed below 5000 for 3rd consecutive day.Nifty is pausing here with slowing decline. This indicates weakness in Nifty and should be followed by strong decline.First part of the move was about 300 points in 4-5 days. This week's range till today is 174 points. Though Nifty is in strong decline but the weekly range is not confirming that. This could result in volatile week ahead in next few weeks.
1. Nifty down by 0.2% with 0.8 breadth.
2. 371st day since the highs of 6338, 97th day since the lows of 4531, 54th day since the swing highs of 5629.
Nifty closed below 5000 for 3rd consecutive day.Nifty is pausing here with slowing decline. This indicates weakness in Nifty and should be followed by strong decline.First part of the move was about 300 points in 4-5 days. This week's range till today is 174 points. Though Nifty is in strong decline but the weekly range is not confirming that. This could result in volatile week ahead in next few weeks.
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