Nifty moved sideways today with higher volumes and neutral breadth.Important points for today.
1.Nifty up by 0.15% with 1.0 breadth.
2.7th day since the highs of 5475.
Nifty was sideways today and closed marginally in +ve.Yesterday's upmove has not been confirmed by today's move,indicating that this may well be the retracement of the fall from 5475-5349.Though it is also possible that Nifty may just push past the earlier highs of 5475 and descend.The momentum in the rally is not there and any significant upside is therefore difficult.Next 3 days of the week will throw more light on the character of this rally from 5349.
My scenario is for a big push down either from 5200 level or from 5350 levels.
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