Nifty had a big upmove with moderately high volumes and +ve breadth. Important points for today.
1.Nifty up by 2.9% with 3.7 breadth.
2.92nd day since the lows of 5177,158th day since the highs of 6338,45th day since the swing highs of 5906.
Nifty closed above 5450 on weekly closing.Nifty dropped by about 375 points from 5570 and has bounced back about 300 points in 4 days.If Nifty starts retracing again next week then Nifty would likely break 5177 levels by about 3-5%.But if Nifty remains above 5400 all of next week,then Nifty may have entered into a short term upmove for next few days/weeks.
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