Nifty gapped up and continued to rise to close above 5850 levels with higher volumes and +ve breadth. Important points for today.
1.Nifty up by 2.0% with 2.7 breadth.
2.46th day since the lows of 5177,112th day since the highs of 6338.
Nifty bounced today and closed above 5850.The upmove has materialized and is likely to cross 5950-6000 band.Since medium term trend is down till Nifty takes out 6181 levels , so any reversal between 6000-6181 will be bearish and can result in sharp fall/selloff in coming days.Also May is the month of high volatility.
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