Nifty followed up yesterdays gain with a new high at open but moved sideways after that with higher volumes and neutral breadth.Important points for today.
1.Nifty up by 0.15% with 0.53 breadth.
2.43rd day of rally since the lows of 4786(33 days of downturn).
Nifty moved up further today but breadth was quite -ve.The upside momentum may have exhausted looking at the breadth today.Nifty can have a correction any time now.The extent of the correction will tell whether Nifty has made the final top and reversed or not.Any correction below last closing low of 5368, I would consider as an indicator of Nifty having reversed its rally from 4786.
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