Nifty broke 5150 levels though with low volumes and -ve breadth. Important points for today.
1. Nifty down by 1.75% with 0.35 breadth.
2. 422nd day since the highs of 6338, 148th day since the lows of 4531.
Nifty broke last week's low on first day of the week.Nifty has closed below important support levels and if Nifty fails to cross 5150 in next 1-2 days then further downsides are possible.Monthly/Quarterly range stands now at 240 points.Nifty looks like expanding on the downside here.Since the volumes are low , so Nifty may pause here around 5100 levels before going further down.
1. Nifty down by 1.75% with 0.35 breadth.
2. 422nd day since the highs of 6338, 148th day since the lows of 4531.
Nifty broke last week's low on first day of the week.Nifty has closed below important support levels and if Nifty fails to cross 5150 in next 1-2 days then further downsides are possible.Monthly/Quarterly range stands now at 240 points.Nifty looks like expanding on the downside here.Since the volumes are low , so Nifty may pause here around 5100 levels before going further down.
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