Nifty slid further down with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.35% with 0.42 breadth.
2. 557th day since the highs of 6338, 281st day since the lows of 4531.
Nifty retraced further on the downside. Short term bottom should be there in next 2-3 days, since the retracement from 6082/6111 is 13 days now. 5700-5800 zone should be looked at for covering the shorts.Nifty broke the January month lows today.Nifty expanded the monthly range today to 125 points and weekly range is 111 points with 1 day to go. Nifty has broken the range on downside, so it is likely to continue in this direction further.
1. Nifty down by 0.35% with 0.42 breadth.
2. 557th day since the highs of 6338, 281st day since the lows of 4531.
Nifty retraced further on the downside. Short term bottom should be there in next 2-3 days, since the retracement from 6082/6111 is 13 days now. 5700-5800 zone should be looked at for covering the shorts.Nifty broke the January month lows today.Nifty expanded the monthly range today to 125 points and weekly range is 111 points with 1 day to go. Nifty has broken the range on downside, so it is likely to continue in this direction further.
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