Nifty slipped further down below 8000 levels amid high volumes and -ve breadth. Important points for today.
1. Nifty down by 0.2% with 0.35 breadth.
2. 263rd day since the lows of 5118, 156th day since the lows of 5933.
Nifty hovered around 8000 levels and briefly dipped to 7950 level but bounced immediately from there. Nifty is critically poised now, downside is limited to ~7800 level at worst. Nifty may be preparing the ground for higher move. Weekly/monthly range stands at 209/255 points. Range expansion beyond 7925/8180 is highly likely in next 4 days of the month by 100+ points.
1. Nifty down by 0.2% with 0.35 breadth.
2. 263rd day since the lows of 5118, 156th day since the lows of 5933.
Nifty hovered around 8000 levels and briefly dipped to 7950 level but bounced immediately from there. Nifty is critically poised now, downside is limited to ~7800 level at worst. Nifty may be preparing the ground for higher move. Weekly/monthly range stands at 209/255 points. Range expansion beyond 7925/8180 is highly likely in next 4 days of the month by 100+ points.
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