Nifty bounced up and closed above 5150 with moderate volumes and +ve breadth. Important points for today.
1.Nifty up by 1.8% with 4.6 breadth.
2.124th day since the lows of 5177,190th day since the highs of 6338,78th day since the swing highs of 5906,37th day since the swing lows of 5195.
Nifty may have bottomed out yesterday at 4950 levels.Though reattempt is possible in coming days,but I think Nifty may now form a higher low and may not go sub 5000 levels in the reattempt.Nifty's likely range for this expiry should be 5000-5350/5400.
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