Nifty moved with -ve breadth and somewhat lower volumes and closed above 5300 on weekly basis.Important points for friday .
1.Nifty upmove by 0.7% with 0.85 breadth.
2.4th day of upmove after 7 days of downturn.
3.Nifty closes above 5300 on weekly basis after falling below it for 1 week.
Nifty's move still has many options open ie Wave4/Wave5 daily or WaveA down.The monthly closing of next week , if +ve will be 3rd +ve monthly.Wave1 & Wave3 monthly were 3 months long.It would be intersting to see how much Nifty will be able to go past 5399 during this upmove.That will also give some clue on the kind of downturn to expect
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