Nifty gapped up and touched 5200 levels with low volumes and +ve breadth.Important points for today.
1.Nifty up by 1.6% with 2.4 breadth.
2.14th day of rally since 4786 lows(33 days of downturn).
Nifty had a good bounce today with +ve breadth.I expect Nifty to follow up/consolidate on these gains for the next 4 days of the week.I expect that any weakness that develops now for 3-4 days along with -ve divergences in oscillators could be a potential signal for the next downturn.I am expecting that if Nifty turns down again in next couple of weeks,it could be a big cut within a time of 8-10 days.
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