Nifty slipped below 6300 levels with moderate volumes and neutral breadth. Important points for today.
1. Nifty down by 1.0% with 1.2 breadth.
2. 457th day since the lows of 4531, 46th day since the swing lows of 5118, 23rd day since the swing lows of 5700.
Nifty closed below 6300 levels and started a short term correction.6050-6150 should provide support incase Nifty falls further. If Nifty does not breach 6050 level then 6350 could be reattempted in coming days. But breach of 5950 levels would sigal Nifty has topped at 6350 for Intermediate term and sideways to bearish mode may continue for some time. Today range was 642 points.
1. Nifty down by 1.0% with 1.2 breadth.
2. 457th day since the lows of 4531, 46th day since the swing lows of 5118, 23rd day since the swing lows of 5700.
Nifty closed below 6300 levels and started a short term correction.6050-6150 should provide support incase Nifty falls further. If Nifty does not breach 6050 level then 6350 could be reattempted in coming days. But breach of 5950 levels would sigal Nifty has topped at 6350 for Intermediate term and sideways to bearish mode may continue for some time. Today range was 642 points.
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