Nifty moved sideways, though it broke the previous day low by 4 points.Important points for the day.
1.Nifty closes flat ,down by .05% with 1.1 breadth.
2.22nd day since lows of 4786(33 days of downturn).
Nifty has closed 4 days within 1% range.This is likely a topping pattern but it could also be a pause/consolidation of an extended rally's wave.If this is a topping pattern,then Nifty should drift down to 5100-5150 levels in next 2-3 days and moved sideways there before making the next cut down.Else Nifty should move up beyond 5400 ,undergo correction to about 5200-5250 and again bounce back to 5400+ for the last leg of this rally from 4786.
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