Nifty opened gap down below 6200 and closed deep in the red with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 2.1% with 0.18 breadth.
2. 103rd day since the lows of 5118, 55 days since the Diwali highs of 6342.
Nifty closed below the previous swing low of 6139. Nifty has breached the trendline support @6180 and is just at Nov low of 6129. Decisive breach of this level will take it to 6000 levels. Todays range was 58 points While monthly range after today stands at 228 points. Monthly range expanded today on downside. Only if Nifty closes above 6200 in next 1-2 days , will possibility of 6400+ remain open in coming days. Else lows below 6000 could happen if Nifty sustains breach of 6150.
1. Nifty down by 2.1% with 0.18 breadth.
2. 103rd day since the lows of 5118, 55 days since the Diwali highs of 6342.
Nifty closed below the previous swing low of 6139. Nifty has breached the trendline support @6180 and is just at Nov low of 6129. Decisive breach of this level will take it to 6000 levels. Todays range was 58 points While monthly range after today stands at 228 points. Monthly range expanded today on downside. Only if Nifty closes above 6200 in next 1-2 days , will possibility of 6400+ remain open in coming days. Else lows below 6000 could happen if Nifty sustains breach of 6150.
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