Nifty dropped down below 6000 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 0.6% with 0.73 breadth.
2. 553rd day since the highs of 6338, 277th day since the lows of 4531.
Nifty ended the week in red with loss of 1.25%.If Nifty has entered into short/medium term correction, follow up action in next week should confirm the downside with further lower levels.But if this move is part of consolidation, then Nifty may either continue the same sideways move or move up if the consolidation is complete.
1. Nifty down by 0.6% with 0.73 breadth.
2. 553rd day since the highs of 6338, 277th day since the lows of 4531.
Nifty ended the week in red with loss of 1.25%.If Nifty has entered into short/medium term correction, follow up action in next week should confirm the downside with further lower levels.But if this move is part of consolidation, then Nifty may either continue the same sideways move or move up if the consolidation is complete.
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