Market is continuing this huge rally and there seems to be no resistance as we are seeing huge gap ups. The market is heading towards 6000 which may happen in next few days, but we have resistance at 5950 - 55. We even may see consolidation today at these levels as we have seen one way movement. If Nifty moves below 5835 and stays their for some time we may see selling and can be used by traders to short the market.
The Caveat is VIX is still high and we see some volatility and key to everything is USDINR movement because it as has a support 63.40, if it breaks this level and stays their for a day it could go to 61 - 60 levels other wise we may get shorting opportunities.
The Caveat is VIX is still high and we see some volatility and key to everything is USDINR movement because it as has a support 63.40, if it breaks this level and stays their for a day it could go to 61 - 60 levels other wise we may get shorting opportunities.
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