Nifty jumped above 5700 at open but slide back and closed in the red with moderate volumes and neutral breadth. Important points for today.
1.Nifty down by 0.4% with 1.5 breadth.
2.97th day since the lows of 5177,163rd day since the highs of 6338,50th day since the swing highs of 5906.
Nifty closed above 5600 for 3rd consecutive day.Nifty pulled back back from 5700+ levels indicating some resistance at the level.Since last weeks saw a sharp upmove of 5% on weekly basis,so Nifty can go into sideways move with narrow range for next 1/2 weeks before it moves higher.Short term trend is up,medium term trend is down.
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