Nifty moved past 5450 today with high volumes and neutral breadth.Important points for today.
1.Nifty up by 0.7% with 1.15 breadth.
2.58th day since 4786 lows OR 4th day since the highs of 5492.
3.11th week of rally since the lows of 4786.
Nifty moved in +ve territory but the close was in the middle of today's range.Also breadth was only marginally +ve indicating weak momentum.This move may either be retracement of the fall from 5492-5372 or this is rally after correction upto 5372.If Monday ,Tuesday are down days then I would consider today's move to be retracement of the fall of last 3 days.In such a case expiry week would be critical and Nifty could make a big fall in that week.Else I expect Nifty to make big fall upto the week of September10th.
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