Nifty was sideways today with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 0.5% with 1.9 breadth.
2.98th day since the lows of 4786.
3.28th day since the previous swing low of 5350.
Nifty moved in a narrow range of 6100-6150 broadly.Nifty has been facing resistance above 6000 and moving slowly.Todays move looks to be start of a new move upwards.Since the previous upmove lasted for 3 days ,I would expect around the same ie 3-5 number of days for this move also.The important point to note will be how much Nifty will be able to extend the previous high of 6223.A new high if,100-200 points higher only could well be the top of this move as well of the complete rally(from 4786).
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