IT WAS A MEGA RISE FOR DOW WITH A 250 POINT RISE. BRAZIL WAS UP BY 2.4% WHERE AS BOTH FTSE & DAX CLOSED BY MORE THAN 2% UP. ALTHOUGH ASIAN MARKETS HAVE NOT OPENED WITH THAT BUOYANCY, AS THE DAY PROGRESSES THESE ALSO WILL RISE FURTHER.
FOR INDIAN MARKETS ONE MAY EXPECT A BIG GAP UP OPEN AROUND OR ABOVE THE 6000 MARK FOR SPOT NIFTY, BUT HAVING GONE UP FOR LAST 3 DAYS WHETHER NIFTY WILL SUSTAIN THE GAP UP HAS TO BE SEEN. SUSTAINING ABOVE 5993 OR 6000 SHOULD BE BOUGHT INTO WITH A TIGHT QUIT POINT BELOW THE 15 MINUTE CANDLE AND FAILURE TO SUSTAIN ABOVE 6000 MAY BE SHORTED WITH A QUIT POINT ABOVE 6030 TO REVERSE THE TRADE & GO DOUBLE LONG ABOVE 6030. AS THERE IS BULLISH ATMOSPHERE ALL AROUND, IT IS WISER TO REMAIN LONG OR GO LONG ON EVERY INTRADAY DECLINE BY HAVING ADEQUATE STOP LOSS.
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