Nifty moved past 5800 with moderate volumes and +ve breadth. Important points for today.
1.Nifty up by 0.9% with 3.4 breadth.
2.33rd day since the lows of 5177,99th day since the highs of 6338.
Nifty is continuing with its upmove for the 7th consecutive day.Breadth today increased significantly compared to the last 6 days indicating increasing bullish sentiment.Nifty may continue with its upmove but I expect on end of this move, Nifty to approach lower support zone of 5200-5400.Also my reading is that Nifty is in sideways corrective zone since 5177, to be followed by an impulsive move on the downside.
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