Nifty kept sliding all day and closed just above 7850 with moderately high volumes and -ve breadth. Important points for today.
1. Nifty down by 1.15% with 0.45 breadth.
2. 268th day since the lows of 5118, 161st day since the lows of 5933.
Nifty just about touched the previous swing low of 7841, missing by 1 point. Today's range was 101 points and monthly range is 135 points till today. If 7800 is retained on closing basis in next 3 days then Nifty may aim for new highs in coming week. But if 7800 is breached then Nifty enters into medium term correction with 7200-7400 as baseline support.
1. Nifty down by 1.15% with 0.45 breadth.
2. 268th day since the lows of 5118, 161st day since the lows of 5933.
Nifty just about touched the previous swing low of 7841, missing by 1 point. Today's range was 101 points and monthly range is 135 points till today. If 7800 is retained on closing basis in next 3 days then Nifty may aim for new highs in coming week. But if 7800 is breached then Nifty enters into medium term correction with 7200-7400 as baseline support.
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