Nifty moved in 46 point range with low volumes and neutral breadth. Important points for today.
1. Nifty flat with 1.35 breadth.
2. 382nd day since the highs of 6338, 108th day since the lows of 4531, 65th day since the swing highs of 5629.
Nifty ended above 4900 on weekly close.Since last 2 weeks Nifty has closed flat around 4900 after falling steeply for 3 weeks before.Today was 14th week since the medium term highs of 5629 in Mid Feb.Nifty is likely undergoing medium term weekly correction and it does not like it has ended as yet. Fast fall to new lows should be a capitulation point of this weekly downmove.
1. Nifty flat with 1.35 breadth.
2. 382nd day since the highs of 6338, 108th day since the lows of 4531, 65th day since the swing highs of 5629.
Nifty ended above 4900 on weekly close.Since last 2 weeks Nifty has closed flat around 4900 after falling steeply for 3 weeks before.Today was 14th week since the medium term highs of 5629 in Mid Feb.Nifty is likely undergoing medium term weekly correction and it does not like it has ended as yet. Fast fall to new lows should be a capitulation point of this weekly downmove.
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