Nifty extended its bounce while moving sideways with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 0.3% with 1.7 breadth.
2.8th day since the highs of 5549.
Nifty was in sideways range with upside bias.Yesterdays momentum was not there today since Nifty though within the 5550 range but was not comfortable crossing 5500 zone.Also breadth was moderately +ve only.Since the start of Wave5 from 5225,Nifty has closed above its short term correction in 7/8 days on 3 times.So if another 2-3 days Nifty is unable to move past 5550 then Nifty has most likely reversed from 5549 and will go further down.
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