Nifty surged strongly to close above 5450 levels with moderate volumes and very +ve breadth.Important points for today.
1.Nifty up by 2.75% with 9.0 breadth.
2.29th day since 6181,68th day since highs of 6338.
Nifty was up for 2nd consecutive day with very strong +ve breadth.Todays breadth indicates to me that Nifty is likely to turn down again and make new lows as part of Intermediate bottom formation.But incase this is a sharp rally then Nifty may just take a pause and will move ahead.Nifty is likely to take some pause here for next few days before deciding on the next course of action.
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