Nifty cracked down below 5100 with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 2.0% with 0.24 breadth.
2. 367th day since the highs of 6338, 93rd day since the lows of 4531, 50th day since the swing highs of 5629.
Nifty has broken down from its rangebound move 5200-5400 points.This was 2nd consecutive down week of Nifty and is down by 2.4% for this week.Nifty should gather momentum on the downside now and first major support now comes @4700. Range for this week was 209 points after many weeks of low range movement around 100-150 points.In Next 2 weeks Nifty may hit an important low.
1. Nifty down by 2.0% with 0.24 breadth.
2. 367th day since the highs of 6338, 93rd day since the lows of 4531, 50th day since the swing highs of 5629.
Nifty has broken down from its rangebound move 5200-5400 points.This was 2nd consecutive down week of Nifty and is down by 2.4% for this week.Nifty should gather momentum on the downside now and first major support now comes @4700. Range for this week was 209 points after many weeks of low range movement around 100-150 points.In Next 2 weeks Nifty may hit an important low.
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