Nifty slipped further below 8100 level amid high volumes and +ve breadth. Important points for today.
1. Nifty down by 0.7% with 1.3 breadth.
2. 253rd day since the lows of 5118, 146th day since the lows of 5933.
Nifty closed in the red for 2nd consecutive day and below 8100 level. Todays range was 53 points and Nifty closed just below 7ema. If Nifty slides further to go below 8050, then retest of Gap region at 7968 can happen soon. But if Nifty sustains above 8050, then sudden reversal to 8200 may be coming. Next 2-3 days should see a move in 1 direction.
1. Nifty down by 0.7% with 1.3 breadth.
2. 253rd day since the lows of 5118, 146th day since the lows of 5933.
Nifty closed in the red for 2nd consecutive day and below 8100 level. Todays range was 53 points and Nifty closed just below 7ema. If Nifty slides further to go below 8050, then retest of Gap region at 7968 can happen soon. But if Nifty sustains above 8050, then sudden reversal to 8200 may be coming. Next 2-3 days should see a move in 1 direction.
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