Nifty drifted towards 5850 but bounced back strongly to above 5950 levels with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 1.0% with 1.3 breadth.
2.14th day since the lows of 5690,28th day since the highs of 6338.
Nifty bounced strongly towards closing from around 5850 levels.I expect Nifty to move to 6100+ levels now to complete the corrective rally from 5690.Since Nifty may be moving in a range of 200-300 points (5800/5900-6200),so up/down moves of Nifty may be confusing for the next few days.I expect Nifty to complete the corrective rally around month end.But incase Nifty crosses above 6200 with volumes and momentum,then Nifty could make new highs above 6300.
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