Nifty retested yesterday's low and bounced with moderate volumes and neutral breadth. Important points for today.
1.Nifty up by 1.0% with 1.4 breadth.
2. 258th day since the highs of 6338.
Nifty closed above 4750 today though it again breached 4700 levels.Today was 17th day since the swing highs of 5399.Nifty may bounce/go sideways here for few days.If Nifty bounces from here to 4900-5000, then short term bottom for Nifty is in and Nifty may build a base around 4600 levels by retesting this level again over next 4-6 weeks before bouncing strongly.November range till today is 687 points.
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