Sep26 Update

Nifty went down closer to 4750 but recovered later on to close above 4800 with low volumes and -ve breadth. Important points for today.

1.Nifty down by 0.7% with 0.3 breadth.
2.219th day since the highs of 6338,19th day since the lows of 4720.

Nifty tested the lows of 4720 and bounced.I would look for Nifty's behaviour for next 2-3 days.If Nifty firms up here, then it may head back to 5200 levels.Since Nifty is testing 4700 lows after 19 days,I expect it is unlikely to be broken.