Nifty broke 4700 today but closed above it with moderate volumes and -ve breadth. Important points for today.
1. Nifty down by 0.4% with 0.4 breadth.
2. 272nd day since the highs of 6338, 31st day since the swing highs of 5399, 15th day since the lows of 4639.
Nifty is retesting the earlier swing lows of 4639.Nifty is retesting 4700 levels for 4th time and till now is lacking momentum for a big leg down. I see the chances of sustainable medium term upmove from here if Nifty does not break 4600-4700 zone significantly in next 1 week or so.December range till today is 426 points.
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