Nifty extended its rally to beyond 5000 levels with +ve breadth.Importnat points for today.
1.Nifty moved up by 1.7% with 1.6 breadth.
2.2nd day of rally after 33 days downturn.
Today was the second consecutive day of rally and Nifty is about 4% up from closing lows and about 5% from intraday lows.I suppose Nifty has made a bottom at 4786 now and started the rally .Next significant resistances are at 5200 and then 5400.Nifty has maintained its higher lows(@4786),so there is a chance that Nifty will make a new high also.This correction was the 4th correction since the beginning of this rally from March09.So next correction will have a higher probability of being a correction of the entire rally.
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