Nifty moved in a narrow range of 65 points with low volumes and -ve breadth.Important points for today.
1.Nifty up by 0.1% with 0.55 breadth.
2.24th day since 6181,63rd day since the highs of 6338.
Nifty hovered around 5400 levels and closed at the same level.Breadth was marginally -ve but the volumes were quite low.Today's move indicate that the fall of Friday is not likely a capitulating move and an impulsive move on downside is likely in next few days.This move from Friday then is likely a sideways move of Nifty and could take another 2-3 days in the range of 5350-5500.Nifty's close above 5450 is likely to be a inflection point where if Nifty powers up above 5500/5550, then Nifty is turning up OR it may reverse from there on the downside.
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