Nifty broke down below 7600 with -ve breadth and higher volumes. Important points for today.
1. Nifty down by 1.5% with 0.33 breadth.
2. 193rd day since the lows of 5118, 86th day since the lows of 5933.
Nifty closed below 7550 today. Daily range was 153 points and Weekly range ended at 175 points and Monthly range stands at 461 points till today. Nifty closed below 7ema with this sharp fall. If Nifty stabilizes by Monday and moves up, then new highs above 7700 may happen in a sharp upmove. New highs above 7700 should be limited to 100-150 points ie around 7850.
1. Nifty down by 1.5% with 0.33 breadth.
2. 193rd day since the lows of 5118, 86th day since the lows of 5933.
Nifty closed below 7550 today. Daily range was 153 points and Weekly range ended at 175 points and Monthly range stands at 461 points till today. Nifty closed below 7ema with this sharp fall. If Nifty stabilizes by Monday and moves up, then new highs above 7700 may happen in a sharp upmove. New highs above 7700 should be limited to 100-150 points ie around 7850.
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