Nifty extended upto 5100 levels but gave up the gains with moderate volumes and -ve breadth. Important points for today.
1. Nifty up by 0.5% with 0.15 breadth.
2. 266th day since the highs of 6338, 25th day since the swing highs of 5399,9th day since the lows of 4639.
Nifty is hovering around 5050 levels since last 3 days.There is likely some more steam left in this short term term rally.If Nifty crosses 5200 on weekly basis this week or next week, then the correction that follows would be buy on dips.But if Nifty stays around this zone for next few weeks , then a new low may be likely by first half of january.December range till today is 183 points.
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