Nifty retraced most of yesterdays gain with moderate volumes and -ve breadth. Important points for today.
1.Nifty down by 0.9% with 0.52 breadth.
2.8th day since the lows of 5177,74th day since the highs of 6338.
Nifty retraced yesterdays gain and closed well below 5500.If Nifty does not break below 5400 levels in 1-2 days ,I would expect this range bound movement to resolve itself on breakout above 5600 levels.Budget day would be critical for any breakout to happen though Nifty could also take an Opposite move before going in the direction of the upmove.
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