Interim Update

Bottom Line: Please do not get carried away with opening GAP. The Big GAP looks more towards emotional trading rather than actual buying. We still believe this is an upward correction and not new trend up as it has taken more time to retrace previous down leg so far. Strong resistance now lies at 5050 and the probability of this getting breached is low. If Nifty is still following its 6 to 7 days up cycle then we should get a spike up tomorrow or on Monday and turn down the same day