Nifty slide down heavily with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 3.5% with 0.25 breadth.
2. 694th day since the highs of 6338, 412th day since the lows of 4531.
Nifty broke the earlier closing low of 5302 and closed below 5300 levels. Today was 23rd day since the reversal from 6093 and 6th week of downturn. This week's range now stands at 254 points. Though 5300 is a trendline support but Nifty is just able to pierce it today. If Nifty goes further down below 5250, then Nifty could keep sliding to 4900-5000 levels. Monthly/Quarterly range stand at 554/839 points.
1. Nifty down by 3.5% with 0.25 breadth.
2. 694th day since the highs of 6338, 412th day since the lows of 4531.
Nifty broke the earlier closing low of 5302 and closed below 5300 levels. Today was 23rd day since the reversal from 6093 and 6th week of downturn. This week's range now stands at 254 points. Though 5300 is a trendline support but Nifty is just able to pierce it today. If Nifty goes further down below 5250, then Nifty could keep sliding to 4900-5000 levels. Monthly/Quarterly range stand at 554/839 points.
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