Nifty rallied further with moderate volumes and +ve breadth. Important points for today.
1.Nifty up by 1.6% with 2.6 breadth.
2.202nd day since the highs of 6338,2nd day since the lows of 4720.
Nifty's rally today makes a strong case that medium term bottom of Nifty is in Place.Monthly range for August is 831 points.Quarterly range till today is 1020 points.September is the month of high Volatility but since August has seen big range, I expect that September would be relatively muted ie 500-600 points.I expect upward bias of Nifty for the month of September.
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