Nifty pushed past 5750 but closed below it with higher volumes and -ve breadth.Important points for today.
1.Nifty up by 0.8% with 0.6 breadth.
2.32nd day since the lows of 5177, 98th day since the highs of 6338.
Nifty closing above 5700 is near an inflection point.Short term correction is due and it will throw light on the bull/bear path Nifty is likely to follow ahead in coming weeks.5550-5600 is the previous top/resistance,so drop till there should happen on short term correction.But if Nifty starts its impulsive downmove here then short term correction will be part of medium term correction.
Nifty closing above 5700, points to a medium term capitulation,so any reversal from here will be critical.
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