Nifty continued its upsurge crossing 5800 levels with higher volumes and -ve breadth.Important points for today.
1.Nifty up by 0.6% with 0.4 breadth.
2.79th day of rally since the lows of 4786.
3.9th day of the rally from 5402/5350.
Nifty continued its upward momentum but the breadth turned -ve today.This indicates that Nifty is due for a healthy correction in short term.Nifty could enter into short term correction and then make marginally new highs and then undergo Medium term correction OR the correction now will be a Medium term correction.My expectation of correction most likely before Oct15/Nov5(worst case) stands and I will review it only if Nifty goes well above 6000 levels.
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