Nifty opened above 5900 but moved sideways later with high volumes and neutral breadth. Important points for today.
1.Nifty down by 0.3% with 1.4 breadth.
2.38th day since the lows of 5177,104th day since the highs of 6338.
Nifty closed down marginally for the first day after 11 days.Nifty seems to be topping out, very short term ,around 5900-5950.There could be a pullback upto 5750 level before Nifty makes its next move.
But if Nifty does not undergo any daily correction and maintains its upmove,I would expect that Nifty will reverse for downside leg after topping out.
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