India Nifty@25th May 2016-- Look for Gap Up Opening

Global Update
The Dow Jones Industrial Average surged Tuesday as a rally in financial and technology shares underpinned a sharp, broad-based stock-market advance.
The Dow Jones Industrial Average DJIA, +1.23% added 206 points, or 1.2%, to 17,698. All 30 of the blue-chip’s components traded higher, led by financial firms

The S&P 500 index SPX, +1.32% climbed 25 points, or 1.2%, to 2,073 as all 10 main sectors traded in positive territory.

Let us jump back to India Nifty

As per comment section of "India Nifty Update of 24th April 2016--7680 a key level" –mentioned that we could start fresh upside move above 7740 which was my ruin point for shorts taken. As soon as we moved above 7740 in last half an hour trading for 24th May 2016—It hurriesd up to 7761.
Now., we have double bottom in place in the zone 7710—7720 so I was clear today that we shall exit all shorts above 7740 & shall move up.
Now, It looks that we will have gap up opening & could reach target zone 779—7805 which was mentioned as “c-wave” in previous update.
Regards,
Abhishek H.Singh, CMT

Comment:

target zone 7795--7805

Comment:

7870--7880...we will book complete longs...Regards

Comment:

Price is close to resistance area....7870--7880....Any bearish confirmation...look for pull back in the zone 7800--7810. Regards