Nifty slipped towards 4900 levels with lower volumes and -ve breadth. Important points for today.
1. Nifty down by 0.7% with 0.43 breadth.
2. 372nd day since the highs of 6338, 98th day since the lows of 4531, 55th day since the swing highs of 5629.
Nifty edged downwards towards 4900 levels and closed below 4950 level. Today was 4th consecutive down day and 3rd consecutive down week.Nifty is down by 7% in last 3 weeks.Nifty is weak and timeline is indicating that Nifty should be close to forming a medium term bottom here in next few days.So next3-4 weeks could see some volatile swings in Nifty.Range for this week ended at 218 points and for the month is 372 points till today.
1. Nifty down by 0.7% with 0.43 breadth.
2. 372nd day since the highs of 6338, 98th day since the lows of 4531, 55th day since the swing highs of 5629.
Nifty edged downwards towards 4900 levels and closed below 4950 level. Today was 4th consecutive down day and 3rd consecutive down week.Nifty is down by 7% in last 3 weeks.Nifty is weak and timeline is indicating that Nifty should be close to forming a medium term bottom here in next few days.So next3-4 weeks could see some volatile swings in Nifty.Range for this week ended at 218 points and for the month is 372 points till today.
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