Nifty moved sideways between 5850-5900 with higher volumes and +ve breadth.Important points for today.
1.Nifty up by 1.0% with 2.1 breadth.
2.82nd day of rally since the lows of 4786.
3.12th day of rally from 5402/5348.
Nifty consolidated between 5850-5900 with +ve breadth.Breadth turned +ve today after minor correction of yesterday indicating that broader market is capitulating in this leg of rally.Breadth was neutral to -ve since last 3-4 days of the rally.This should be the end of Wave5.Though Nifty is likely to go above 5900 for 1-2 days.The correction for this entire leg of rally from 4786 should be as written earlier within 8-10 days of the Top.
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