Nifty bounced back today with low volumes and neutral breadth.Important points for today.
1.Nifty up by 1.0% with 1.4 breadth.
2.30th day since the lows of 4786(33 days of downturn).
Nifty bounced back today.Tomorrow's confirmation is needed inorder to take it as an upmove.Today being the first day of upmove,breadth as well as volumes were weak indicating lack of strength.I expect this bounce/upmove to last for 3-4 days only.So Nifty's close below 5235 will be a signal of an upcoming downfall.I expect this week or next week ,we may begin a downfall, if not already started.First 8-10 days of downfall would be critical,as we can see big fall in the first 10 days.So have to be cautious on each days move and look out for signs of weakness on further upmove.
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