Nifty bounced back sharply to close above 5550 with moderate volumes and +ve breadth. Important points for today.
1.Nifty up by 1.7% with 1.65 breadth.
2.57th day since the lows of 5177,123rd day since the highs of 6338.
Nifty bounced back after 9 consecutive down days.Though volumes were moderate but breadth was not impressive,indicating that the bounce could be short lived.PCR is below 1.0 so market is in weak state and there is a chance of bigger falls in coming days.4700-4800 should be strong support zone incase Nifty breaches 5200 with momentum.
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