Nifty bounced above 6100 and closed above it with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 1.7% with 2.0 breadth.
2.13th day since the highs of 6284.
Nifty continued with its bounce for the second day though with moderate volumes. Nifty's close above 6150 will bring more confidence about the strength of this rally.I would be doubtful about this bounce as just the correction until I see strength in Nifty in 6150-6200 zone for a Bull case scenario.
For the bear case I expect that the reversal from here could be sharp and swift and breach of 6000 levels would see sudden sharp fall.
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