Nifty slipped further down below 5900 levels with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 2.0% with 0.56 breadth.
2. 712th day since the highs of 6338, 430th day since the lows of 4531, 18th day since the lows of 5118.
Nifty continued its slide for the 2nd day and closed below 5900 levels.Todays range was 118 points. Nifty is about 50 points above the trendline joining 5118-5318, that is likely to provide support to Nifty. If Nifty breached this trendline for 2-3 conecutive days then next support will be 5500. Nifty is likely to touch its trendline support in next 1-2 days. That will clear up the short term view. Nifty is attempting to cross 6100 levels for the 4th time in this year.
1. Nifty down by 2.0% with 0.56 breadth.
2. 712th day since the highs of 6338, 430th day since the lows of 4531, 18th day since the lows of 5118.
Nifty continued its slide for the 2nd day and closed below 5900 levels.Todays range was 118 points. Nifty is about 50 points above the trendline joining 5118-5318, that is likely to provide support to Nifty. If Nifty breached this trendline for 2-3 conecutive days then next support will be 5500. Nifty is likely to touch its trendline support in next 1-2 days. That will clear up the short term view. Nifty is attempting to cross 6100 levels for the 4th time in this year.
No comments:
Post a Comment