Nifty moved around 5000 levels with moderately high volumes and +ve breadth.Important points for today.
1.Nifty up by 0.8% with 1.6 breadth.
2.203rd day since the highs of 6338,3rd day since the lows of 4720.
Nifty was up for the 3rd consecutive day.The medium term bottom is in place.On longer term,Nifty to me remains in bear market since Nov'10 Top of 6338.And the bottom of this bear market will be long drawn one.If I consider the move from 6338-4720 as Wave.A then Wave.B may have started now and could last till feb-Apr timeframe.There may be other possible inferences also,but this one looks one of the likely possibilities to me.But on a shorter timeframe,I see Nifty may remain in upside for next 4-8 weeks.
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