Nifty was sideways to +ve with moderate volumes and neutral breadth.IMportant points for today.
1.Nifty up by 0.8% with 0.8 breadth.
2.11th day since the lows of 5177,77th day since the highs of 6338.
Nifty moved sideways within a range of 106 points and closed above 5300 levels.Since yesterdays move was a big momentum move,so if the down impulse continues then Nifty should cut down on the downside and not remain in sideways.
But If Nifty moves sideways to up for next 2 days then Nifty likely made a double bottom at 5200 and is headed up possibly towards 5600-5700 levels.
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