Nifty had a sharp upmove today but the last hour witnessed sustained selling wiping out nearly all of the gains made.Breadth at closing was -ve but volumes were large.Important points for today.
1.Nifty upmove by 0.5% with 0.85 breadth.
2.3rd day of upmove after7 days of downturn.
Todays move though not very clear, but it appears to me as Wave4/Wave5 daily(to be confirmed).Nifty if it goes up and closes above 5330 , should likely be Wave5 and if Nifty goes ~5300 and falls back to 5150 levels, then it should be wave4.Next 2-3 days of action should make the picture clear.
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