Nifty slipped all through the day dipping below 7900 level amid high volumes and -ve breadth. Important points for today.
1. Nifty down by 1.1% with 0.16 breadth.
2. 264th day since the lows of 5118, 157th day since the lows of 5933.
Nifty traded in the red all day and closed near day's low just above 7900 level. Todays range was 142 points and weekly/monthly range stands at 283/303 points. Nifty having broken on downside is expected to dip further towards 7800 level in next few days. 7750-7800 comes as strong trendline support. This support is likely to rejuvenate Nifty not seen since May'14.
1. Nifty down by 1.1% with 0.16 breadth.
2. 264th day since the lows of 5118, 157th day since the lows of 5933.
Nifty traded in the red all day and closed near day's low just above 7900 level. Todays range was 142 points and weekly/monthly range stands at 283/303 points. Nifty having broken on downside is expected to dip further towards 7800 level in next few days. 7750-7800 comes as strong trendline support. This support is likely to rejuvenate Nifty not seen since May'14.
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