Nifty was sideways in narrow range with low volumes and neutral breadth. Important points for today.
1. Nifty up by 0.25% with 1.15 breadth.
2. 284th day since the highs of 6338, 9th day since the lows of 4531.
Nifty dipped below 4600 but closed above it.If Nifty manages to close above 4600 for next 2 days, then there is a good chance of medium term bottom having been formed and Nifty to remain in upward bias for next few weeks.I expect around 1000 point move in Nifty by budget time.So taking today's low as the low then 1000 points will be ~5600 on Nifty.
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