Nifty surged above 5600 today with moderately high volumes and +ve breadth.Important points for today.
1.Nifty up by 2.4% with 1.9 breadth.
2.30th day since the lows of 5177,96th day since the highs of 6338.
Nifty closed above 5600 today.Volumes were good and breadth improved from previous 3 days.Today was 4th consecutive up day.Nifty is heading into resistance zone of 5650-5750 and is likely to correct from here upto about 5500-5550 levels.Short term Nifty stays in uptrend and Medium term trend is down.This upmove is 5th leg of the corrective pattern started from lows of 5177.So there could be a reversal in Nifty in coming days!
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