Nifty opened in green but slipped to retest sub 7450 towards the end. Important points for the day.
1. Nifty down by 1.45% with 0.16 breadth.
2. 213th day since the lows of 5118, 106th day since the lows of 5933.
Nifty retraced all the gains of last week and closed with a loss of 3.8% on weekly basis. 7500 level too ha been breached decisively. Any bounce that comes may be limited to 7650-7700 levels and that may be good shorting point. This fall may have some more way before it ends, though in short term, due to strong +ve divergence on hourly chart, bounce may happen soon. Weekly/Monthly range stand at 361 points till today
1. Nifty down by 1.45% with 0.16 breadth.
2. 213th day since the lows of 5118, 106th day since the lows of 5933.
Nifty retraced all the gains of last week and closed with a loss of 3.8% on weekly basis. 7500 level too ha been breached decisively. Any bounce that comes may be limited to 7650-7700 levels and that may be good shorting point. This fall may have some more way before it ends, though in short term, due to strong +ve divergence on hourly chart, bounce may happen soon. Weekly/Monthly range stand at 361 points till today
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