Nifty broke above 6000 levels today with high volumes and -ve breadth.Important points for today.
1.Nifty up by 0.5% with 0.3 breadth.
2.84th day of rally since the lows of 4786.
3.14th day of rally since 5350/5402.
Nifty moved and closed above 6000 today.Breadth in this rally has been weak.I expect this rally to be the last rally of the bull market since Mar09.Nifty is not yet showing any signs of weakness except weak breadth.A rally in Nifty usually does not go beyond 18-21 days in the best of the rallies in the Past.So with 14 days already gone,the rally may be nearing its end.I expect this weekly closing to be +ve since last week was big +ve ,so this week it should slow down first before reversing.
No comments:
Post a Comment