Nifty made new yearly highs and closed at new high with moderate volumes and +ve breadth.Important points for today.
1.Nifty moved up by 0.9% with 2.3 breadth.
2.54th day of rally since the lows of 4786(33 days of downturn).
Nifty closed at new yearly highs.Nifty is inching upward without any momentum on the upside.Nifty is extending its 5th wave that started from 5233.The current wave may be Wave4/Wave5.Any close below 5400/5350 should signal the end of rally and start of reversal.Also Nifty usually makes a top of the rally in the first half,so next 4-5 days could potentially be a top of the Nifty since the number of days of rally is also approaching the maximum Nifty has rallied in last 17 months(66 days of rally).
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