Nifty slid below 5600 today with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 1.4% with 0.21 breadth.
2. 649th day since the highs of 6338, 371st day since the low of 4531.
Nifty closed below 5600 levels today. Weakness in Nifty continues though it looks sluggish while going down as today was 26th day since the reversal from 6229. Nifty is in a weak state , so 2 outcomes are likely from this point either a sharp breakdown OR continous slow capitulation slide.Monthly range for this month stands at 445 points.
1. Nifty down by 1.4% with 0.21 breadth.
2. 649th day since the highs of 6338, 371st day since the low of 4531.
Nifty closed below 5600 levels today. Weakness in Nifty continues though it looks sluggish while going down as today was 26th day since the reversal from 6229. Nifty is in a weak state , so 2 outcomes are likely from this point either a sharp breakdown OR continous slow capitulation slide.Monthly range for this month stands at 445 points.
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