Nifty dropped down below 5600 thereby breaking previous low it made few days back. Important points for today.
1. Nifty down by 1.0% with 2.2 breadth.
2. 500th day since the highs of 6338, 224th day since the lows of 4531.
Nifty has again broken the range below 5600 levels.The rise from earlier low of 5583 has been completely retraced in shorter time.Lower levels should follow and Nifty may have made a medium term Top at 5815 in first week of october. This assumption holds true if Nifty does not rebound from here in next few days. Nifty though is right at support line joining the June/July lows.This week's range stands at 158 points and Monthly range is 218 points.
1. Nifty down by 1.0% with 2.2 breadth.
2. 500th day since the highs of 6338, 224th day since the lows of 4531.
Nifty has again broken the range below 5600 levels.The rise from earlier low of 5583 has been completely retraced in shorter time.Lower levels should follow and Nifty may have made a medium term Top at 5815 in first week of october. This assumption holds true if Nifty does not rebound from here in next few days. Nifty though is right at support line joining the June/July lows.This week's range stands at 158 points and Monthly range is 218 points.
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