Nifty moved below 5150 with low volumes and -ve breadth. Important points for today.
1. Nifty up by 0.2% .
2. 423rd day since the highs of 6338, 149th day since the lows of 4531.
Nifty after yesterday's slide seems to have paused around 5100 levels.Only a close above 5200 would reverse the short term trend to +ve ,else Nifty may see further lows in the coming days.I expect a sharp/panic low to happen by next week.If Nifty's level around mid August is around 5000, then levels of 6000+ are possible by around Diwali.
1. Nifty up by 0.2% .
2. 423rd day since the highs of 6338, 149th day since the lows of 4531.
Nifty after yesterday's slide seems to have paused around 5100 levels.Only a close above 5200 would reverse the short term trend to +ve ,else Nifty may see further lows in the coming days.I expect a sharp/panic low to happen by next week.If Nifty's level around mid August is around 5000, then levels of 6000+ are possible by around Diwali.
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