Nifty squandered the gains of last 3 days in1 session with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 3.8% with 0.36 breadth.
2. 699th day since the highs of 6338, 417th day since the lows of 4531.
Nifty closed below 5350 giving up all the gains. Daily trendline gives support at around 5300 levels. So If Nifty closes deep in the red tomorrow also then sub 5000 levels could come soon, else if Nifty takes support at 5300 levels and bounces back then 5600+ levels should be seen soon.Todays range was 257 points.
1. Nifty down by 3.8% with 0.36 breadth.
2. 699th day since the highs of 6338, 417th day since the lows of 4531.
Nifty closed below 5350 giving up all the gains. Daily trendline gives support at around 5300 levels. So If Nifty closes deep in the red tomorrow also then sub 5000 levels could come soon, else if Nifty takes support at 5300 levels and bounces back then 5600+ levels should be seen soon.Todays range was 257 points.
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