Nifty continued with the up move and went above 5500 but closed below it with moderate volumes and neutral breadth.Important points for today.
1.Nifty up by 0.5% with 1.1 breadth.
2.30th day since 6181,69th day since the highs of 6338.
Nifty went above 5500 Intraday.Nifty likely would be targetting next resistance at 5550+ now.Nifty is hovering near an inflection point and there could be a reversal from here in 1-2 days also.Since the downturn from 6181-5177 was of 27 days, so I expect that reversal from here is likely and Nifty would likely build base around 5100 levels inorder to begin a sustainable rally from thereon.
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