Nifty moved in 100 point range and closed above 5000 levels with moderate volumes and neutral breadth. Important points for today.
1.Nifty up by 1.4% with 1.45 breadth.
2.211th day since the highs of 6338,11th day since the lows of 4720.
Nifty is moving in 4900-5050 range this week.Any +ve cues should likely push Nifty beyond 5050-5150 range in next few days.Beyond 5200, I see 5500 as next resistance level for Nifty. Nifty's range is 260 points in this month till today.
I assume the bear market of Nifty started from Nov2010 highs.So I note the days since the highs of 6338.The next Fib no's are 234-378-612. So around these days ,can expect important highs/lows.
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