We had a strong day today. Market breadth is strong as well. Today we had strongest market breadth after Jan 10. good breakout of the resistance. As always market has its own way, one can't predict the market. It looks true in last two days of action. we can just analyze the probability of this market but can't predict the market.
It went down 2.3% then recovered all looses and gained some, next day we see resistance breakout. I still believe this market is due for some rest now. A little supply can pull this market down 2-3% which we say 2 days ago.
I believe we should see 5360 leve in next day or two. We may see low market breadth as we have strong push in the back of this rally.
Big cap stocks were showing big weakness today. With this kind of mixed signal, I believe we have to be very careful in investing. This is the real weakness in the market.
One has to be conservative at this levels for investing as market can have big swings in any direction.
I am bullish in this market for now....I believe 5360 level is reachable in next day or two.
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