Nifty bounced back strongly today from 5700 to above 5850 level with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 1.8% with 2.5 breadth.
2.7th day since 6181,36th since lows of 5690,46th since the highs of 6338.
Nifty closed well above 5850 level.This upmove is likely a consolidation move before the next leg down.But the bounce from 5700 indicates to me that the downside below 5700 is likely limited to 50-100 points.On this upmove I could think of max target of 6000 level.
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