Nifty bounced up on expiry day with moderate volumes and neutral breadth. Important points for today.
1.Nifty up by 1.2% with 1.2 breadth.
2.71st day since the lows of 5177,137th day since the highs of 6338,24th day since the swing highs of 5906.
Nifty closed above 5400 erasing 2 days of losses.Today's move indicates that Nifty remains in sideways trend since the last impulsive downmove of 9 days till 5443.Another impulsive downmove should happen before Nifty makes a medium term bottom.This is the 5th week of downside of Nifty.
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