Nifty moved sideways in a narrow range with moderate volumes and +ve breadth. Important points for today.
1.Nifty down by 0.1% with 3.9 breadth.
2.35th day since the lows of 5177,101st day since the highs of 6338.
3.2nd consecutive up weekly closing.
Nifty moved in a range of 50 points and closed above 5800 on weekly closing.Today was the first -ve close after 8 days of upmove.Next 2-3 days of move should give clues about the road ahead for the month of April.If this turns out to be a suckers rally then Nifty could go down in an equally severe fashion.My observation is that Nifty will reverse somewhere from here and will make a final low in next 4-6 weeks.
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