Nifty closed at new highs above 6300 on Diwali day.Important points for today.
1.Nifty up by 0.5%.
2.116th day of rally since the lows of 4786,6th day of the rally from 5937.
Nifty closed at new highs though didnot take out the earlier peak of 6357.Weekly closing was very strong ,up by 5% indicating that the weekly correction is likely over and a new impulsive move may have started.Since this week was up by 5%, so next week could be consolidation with flat weekly closing.Any close below 6084(weekly low) would signal of a move developing on the downside.
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