Nifty dipped below 6100 with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 1.0% with 0.54 breadth.
2. 461st day since the lows of 4531, 50th day since the swing lows of 5118, 27th day since the swing lows of 5700.
Nifty was down for 5th consecutive day and closed below 6100 levels and below the previous swing low of 6079 that it made on RBI policy day in october. Nifty is right now at support zone of 6050 and showing +ve divergence also,so bounce from here can come and if Nifty closes above 6200 level then 6350 can also be surpassed. Today's range was 74 points and Monthly/Quarterly range is 272/642 points.
1. Nifty down by 1.0% with 0.54 breadth.
2. 461st day since the lows of 4531, 50th day since the swing lows of 5118, 27th day since the swing lows of 5700.
Nifty was down for 5th consecutive day and closed below 6100 levels and below the previous swing low of 6079 that it made on RBI policy day in october. Nifty is right now at support zone of 6050 and showing +ve divergence also,so bounce from here can come and if Nifty closes above 6200 level then 6350 can also be surpassed. Today's range was 74 points and Monthly/Quarterly range is 272/642 points.
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