Nifty closed above 5500 but moved in very narrow range with low volumes and neutral breadth. Important points for today.
1.Nifty up by 0.8% with 1.4 breadth.
2.29th day since the lows of 5177,95th day since the highs of 6338.
Nifty moved in a range of 33 points today.The upmove from last 3 days is showing divergence in breadth.Today was gap up opening and Nifty moved in a very narrow range.Such kind of divergent behaviour(moderate price action + narrow range + +ve breadth) is indicative of reversal ahead.I would look for signs of topping of this upmove as a first sign.
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