Nifty bounced big today with moderate volumes and +ve breadth. Important points for today.
1.Nifty up by 3.0% with 2.5 breadth.
2.227th day since the highs of 6338,27th day since the lows of 4720.
Nifty has bounced from around 4700 levels for 3rd time now.If the upside bias remains for another 1-2 days then Nifty may test 5200 levels by next week.On downside another test of 4700(less likely),would likely breach it by 100-200 points.I expect Nifty to be in upward bias now for next few weeks inching upto 5500 over next 4-6 weeks.Nifty's range for this week/month remains at 192 points till today.
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