SENSEX : The GAP was filled successfully and SENSEX has given a close above the GAP which was a hurdle and now it looks like a HIGHER BOTTOM on daily chart .
We have yet again maintained our track of being with the TREND .
Instead of 16443 yesterdays low becomes a TREND DECIDER level for the SENSEX and all longs should be exited now if SENSEX closes below 16545.
Looking at the strength we can have a SENSEX target of 17209/17314 and above that 17800 is also possible.
NIFTY : NIFTY opened up with a GAP but after making a high of 5046 it went down sharply but recovered strong and closed above the GAP.
AS suggested earlier one LEG of fall and than a LEG of rise was expected and that is what has been happening.
For NIFTY we can have a target of 5156-5177 and 5249 if closes above 5177.
The STOCHASTICS has just turned up from oversold zone.
A CLOSE OF NIFTY BELOW 5046 AGAIN WILL BE BEARISH.
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