Nifty consolidated its gain of 4 days and moved further up with high volumes and +ve breadth.Important points for today.
1.Nifty up by 0.5% with 1.5 breadth.
2.15th day of rally since 4786 lows(33 days of downturn)
Nifty continued its rally for the 5th consecutive day.There is one 1 correction in these 15 days of rally.If this is a pullback rally from the 4786 lows, then price and timewise the rally has reached its target levels.But there has only been 1 correction in these 15 days and normally we see 2-3 corrections in a rally.
But if this is a pullback rally then we can have 1 correction also.Nifty has not shown any -ve divergences as of today.I would expect -ve divergence to appear in Nifty over next few days if nifty is around top of its rally.Any close below 5100 is first sign of Nifty going down to me.
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