Nifty slid further down today with higher volumes and -ve breadth. Important points for today.
1. Nifty down by 0.65% with 0.55 breadth.
2. 499th day since the highs of 6338, 223rd day since the lows of 4531.
Nifty was down for 5th consecutive day. Nifty has been up as well as down for 5/6 consecutive days but inside the 200 point range of 5600-5800.Though i see that upside capitulation move is pending, so breakout should occur soon, But if Nifty breaches 5500 levels then downside scenario may be appearing. Weekly/ Monthly range stand at 115/176 points with 11 days to go in this month.
1. Nifty down by 0.65% with 0.55 breadth.
2. 499th day since the highs of 6338, 223rd day since the lows of 4531.
Nifty was down for 5th consecutive day. Nifty has been up as well as down for 5/6 consecutive days but inside the 200 point range of 5600-5800.Though i see that upside capitulation move is pending, so breakout should occur soon, But if Nifty breaches 5500 levels then downside scenario may be appearing. Weekly/ Monthly range stand at 115/176 points with 11 days to go in this month.
No comments:
Post a Comment