Nifty dropped down today with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.9% with 0.7 breadth.
2. 127th day since the lows of 5118, 79th day since the highs of 6342,55th day since the highs of 6415.
Nifty didn't cross friday's high and slipped down below 6250 levels. The move from 5933 seems over now and a new impulsive downmove may have started with target of ~5700 in March. Breach of 6070 should confirm that 5933 will be breached. Today's range was 65 points and Quarterly range stands at 425 points till today.
1. Nifty down by 0.9% with 0.7 breadth.
2. 127th day since the lows of 5118, 79th day since the highs of 6342,55th day since the highs of 6415.
Nifty didn't cross friday's high and slipped down below 6250 levels. The move from 5933 seems over now and a new impulsive downmove may have started with target of ~5700 in March. Breach of 6070 should confirm that 5933 will be breached. Today's range was 65 points and Quarterly range stands at 425 points till today.
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