Nifty surged above 5900 today with moderate volumes and very +ve breadth.Important points for today.
1.Nifty up by 1.4% with 6.0 breadth.
2.36th day since the lows of 5177,102nd day since the highs of 6338.
Nifty closed above 5900 today.Breadth was highly +ve but price action was only moderately +ve, indicating bullish sentiment and divergence in price action.This only points Nifty is approaching a high level Top.
My weather pointer tells me that Nifty may make a major cut anytime from now to end of May(within next 8 weeks).4800 is the minimum I expect to see if and When Nifty cuts down.
No comments:
Post a Comment