Nifty continued its surge and moved just a tad below 6000 levels with higher volumes and neutral breadth.Important points for today.
1.Nifty up by 1.7% with 1.5 breadth.
2.83rd day of rally since the lows of 4786(33 days of downturn).
3.13th day of rally from 5350/5402.
Nifty continues to bang higher 13th day on the trot.Today's Breadth on Nifty signals capitulation in Index and also broader market's breadth is also indicating capitulation.So top for this 13day rally should be around.The correction following the rally will mark whether it's a Short/Medium/Long term correction.My view is that the top of rally will likely be top of bull market from Mar09 and will be a start of Longer term correction with possible dip to 4700(Minimum) as 1st target OR 4500/below for deeper targets.Breach of Previous lows of 4786 should likely confirm that the correction is long term correction and is WaveC of the Bear market.
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