Nifty opened gap up but moved in a 75 point range all day with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 0.3% with 1.0 breadth.
2.21st day since 6181,60th day since the highs of 6338.
Nifty gave up its gain of first half towards close but closed in the green.Nifty is due for a bounce now and I expect a bounce till about 5550-5600 atleast.Close above 5600 will indicate Nifty may have bottomed out at 5400.But If Nifty reverses from 5550-5600 then Nifty would likely go down to 5100-5200 levels.For the downside I expect the move to come in next 2-4 days.
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