Nifty continued its upmove and moved beyond 6200 before pulling back below 6200 with high volumes and -ve breadth.
1.Nifty up by 0.25% with 0.8 breadth.
2.93rd day of rally from previous swing low of 4786.
3.23rd day of rally from 5350.
Nifty continued with its uptrend but the pullback after 6200 indicates selling pressure coming in at higher levels.If Nifty does not cross todays high in next 2-3 days then a bigger pullback may happen.Since the number of days for this leg of rally as well for the rally from May25 seems quite extended at this point,so a bigger pullback will likely be retracement of the rally from 4786.
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