Nifty reversed yesterday's loss with high volumes and +ve breadth. Important points for today.
1. Nifty up by 2.2% with 2.2 breadth.
2. 304th day since the highs of 6338,29th day since the lows of 4531.
Nifty's today bounce is part of short term correction that Nifty has likely entered.Looking at today's bounce Nifty should likely stretch above previous highs of 5217.I expect the correction mode to continue till around mid-late february.January ended with the range of 629 points.Nifty has jumped by 12.5% in last 1 month.So I expect february to be a low range month with neutral to upward bias.
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