Nifty moved up after a pause of 2 days with lower volumes and +ve breadth.Important points for today.
1.Nifty up by 1.2% with 1.7 breadth.
2.5th days since the lows of 5177,32nd day since 6181,71st day since the highs of 6338.
Nifty closed above 5500 levels ,5 days after the lows of 5177, thus retracing the complete fall from 5556-5177(5 days) in same/lesser time.
As earlier expected by me,Nifty's reversal to 5200 may not happen till around budget as Nifty is not yet showing signs of topping for this short term upmove. Nifty is now bumping into the resistance of 5550-5600 and there could be milder correction to 5450-5500 now before Nifty attempts to cross this resistance zone.
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