Nifty bounced mildly and closed above 5500 levels with low volumes and -ve breadth.Important points for today.
1.Nifty up by 0.65% with 0.63 breadth.
2.117th day since the lows of 5177,183rd day since the highs of 6338,71st day since the swing highs of 5906,30th day since the swing lows of 5195.
Nifty again closed above 5500 levels.Nifty still remains in sideways ranged between 5450-5750.July was compression month for Nifty being 287 points only.So I expect Nifty to expand this month probably around 500 points.For downside,I think this week and next are critical but if Nifty stays around these levels by next week,then It will likely go beyond 5700 levels after that.
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