Nifty reversed yesterdays loss and closed just shy of 5400 with moderate volumes and neutral breadth.Important points for today.
1.Nifty up by 0.6% with 1.2 breadth.
2.41st day of rally since the lows of 4786(33 days of downturn).
Nifty has and inside day, moving within previous days range.Nifty is in tight range of 5350-5450 for last 8 days, so range break is expected now.If there is a breakout, I expect Nifty to close above 5453 levels before reversing.But I expect Nifty to breakdown from here.Breakdown has 2 scenarios as has been listed in yesterdays post.For the crash scenario to happen,some sudden event has to happen to make the markets go into tailspin.
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