Nifty found some bounce from lower 4700 and closed at 4800 with low volumes and neutral breadth.
1.Nifty up by 0.8% with 0.7 breadth.
2. 270th day since the highs of 6338, 29th day since the swing highs of 5399, 13th day since the swing lows of 4639.
Nifty is revisiting 4700 level for the 4th time.Till Nifty remains and closes below 4950 , Nifty's bounce is not reliable.This week's closing is important as it shud clear intermediate term view.This month's range till now is 371 points.I don't expect this month's range to go beyond 500 levels , so any attempt at 4600 levels shud be seen cautiously.
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