Nifty bounced strongly today with low volumes and +ve breadth. Important points for today.
1. Nifty up by 2.7% with 4.36 breadth.
2. 285th day since the highs of 6338, 10th day since the lows of 4531.
Nifty had a strong bounce today.Today's bounce increases the validity of the medium term bottom having been formed at 4531.Nifty's next resistance should come at 5050-5100 levels given the strong breadth in today's bounce.I expect to see sustained upmove from here upto 5500-6000 levels in next 2 months or so.
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