Nifty made a big rebound with moderate volumes and +ve breadth.Important points for today.
1.Nifty up by 3.6% with 5.2 breadth.
2.13th day since the lows of 5177,79th day since the highs of 6338.
Nifty surged and closed above 5500.Nifty has retraced the fall from 5526-5232 in 3 days time.That implies Nifty has strong support at 5200,since Nifty has done faster retracement of the fall to 5200 twice now.But the rise of today is lot steeper than a normal bull trend would have been.So if todays rise has no follow up in coming 1-2 days then Nifty can probably again go down to 5200(or may be lower to 5100 also) and then bounce thereafter.I see Nifty hovering in 5000-5700 range for the month of March.
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