Nifty went down to near 5400 levels but bounced back to close above 5500 levels with low volumes and neutral breadth.Important points for today.
1.Nifty up by 1.1% with 0.9 breadth.
2.34th day since 6181,73rd day since 6338,7th day since 5177.
Nifty closed above 5500 after bouncing from 5400 levels.Fridays fall got support at 5400 levels though stocks cracked down in the morning around 5400 levels.So Nifty likely to remain in the range of 5400-5600 with sideways/choppy move till around budget.Budget should likely give some direction to Nifty from this range ie either break down to 5100 OR break above next resistance of 5650-5700.
Medium term trend of Nifty remains down.
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