Nifty dropped down sharply with higher volumes and -ve breadth. Important points for today.
1. Nifty down by 1.55% with 0.3 breadth.
2. 584th day since the highs of 6338, 308th day since the lows of 4531,12th day since the swing lows of 5693.
Nifty closed below 5750 today.Today was 7th day since the swing highs of 5971. Nifty gained downside momentum today but the support of 5650 has not been broken/tested again. Nifty should break on downside, if the momentum is maintained or if Nifty does not breach 5650 this week, then there could be rally to 6000+ for next few days.Range for this week is 126 points.
1. Nifty down by 1.55% with 0.3 breadth.
2. 584th day since the highs of 6338, 308th day since the lows of 4531,12th day since the swing lows of 5693.
Nifty closed below 5750 today.Today was 7th day since the swing highs of 5971. Nifty gained downside momentum today but the support of 5650 has not been broken/tested again. Nifty should break on downside, if the momentum is maintained or if Nifty does not breach 5650 this week, then there could be rally to 6000+ for next few days.Range for this week is 126 points.
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