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Daily Technical View on Nifty

* Nifty ended lower on March 05 to snap four days of gains even after recovering from morning lows.

* At close, Nifty was down 0.22% or 49.3 points at 22356.3.

* Cash market volumes on the NSE at Rs.0.95 lac cr rose compared to the previous session.

* Smallcap index fell more than the Nifty even as the advance decline ratio fell to 0.52:1.

* Nifty formed a high wave type candle and closed just under its opening levels.

* Markets have gone sideways amidst lower volumes.

* It could now stay in the 22229-22463 band in the near term.

* Broader market have turned weak. Mid and Smallcap stock could continue to underperform

* Positional trend of Nifty is bullish but short term trend could turn down

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