Nifty bounced above 5200 today with moderately high volumes and neutral breadth. Important points for today.
1. Nifty up by 1.1% with 0.7 breadth.
2. 341st day since the highs of 6338, 67th day since the lows of 4531, 24th day since the swing highs of 5629.
Nifty has likely taken short term support at 5150-5200 levels.Only if Nifty manages to show strength with 5400+ closing, I think is a chance of Nifty moving above 5600.Else this may just be sideways move till Nifty opens up its new down impulsive move.With today's bounce Nifty's monthly range looks to end at 328 points.
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