Nifty opened gapped down and bounced big to close above 5900 with moderatly high volumes and +ve breadth. Important points for today.
1.Nifty up by 2.2% with 2.75 breadth.
2.42nd day since the lows of 5177,108th day since the highs of 6338.
Nifty bounced back after breaking 5778 levels.Today was a big upmove and is likely to continue for another 2-3 days atleast.The level to which this upmove goes will give some indication about the further direction.I expect this upmove to be ~50-100 points above the previous high of 5944 and possible reversal from there.
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