Nifty continued with its upmove with moderate volumes and +ve breadth.Important points for today.
1.Nifty moved up by 0.4% with 1.4 breadth.
2.4th day of rally from 4786 lows.
Nifty's rally entered into its 4th consecutive day of upmove.Though its was sideways consolidation today,but Nifty ended near the days high towards the end.Next significant resistance comes in around 5150-5200 levels.That is the level to look for a pause or some correction in the Nifty.Right now It looks to me that Nifty will atleast test 5400 levels in the coming weeks before deciding its next move.My favoured scenario now is that Nifty to test 5400-5600 levels by around mid July before heading down towards 4000 levels.
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