There has been steady improvement in breadth in last 10 days. Few more days of buying might lead to breadth thrust. The buying has been steady but there has been no big 500 plus kind of day.
The beaten down stocks have found bid and and some heavily shorted stocks have reversed quickly from bottom.
This action is similar to action we saw last year. The momentum stocks started going up only after few weeks of such action.
As of now as long as we do not get big down day, this is constructive action.
As of now as long as we do not get big down day, this is constructive action.
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