Nifty50 gap up tomorrow, will it sustain ?
SGX nifty is indicating yet another massive gap up opening tomorrow-assuming factors remain unchanged and the gap up indication remains vaild tomorrow morning before market open also. Last session, Nifty closed above camarilla R3 , any sustained gap up, breach of PDH, will take it to camarilla R4 level (17675). Higher levels could be seen during the week assuming sentiments remain positive. CPR is very narrow and so a trending market is expected. PCR is 0.84. Crude prices have bounced above 100USD and is at 107USD now, this is a negative news for India, however India seems to be having access to cheaper Russian oil. Markets could remain a bit jittery and pullbacks therefore may not have legs. What do you think?
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