The market had suddenly turned bullish as we had already indicated in our post but even the best analysts might have been baffled by the more than 200 points jump with a gap up.
The immediate support for today is at 5846 above which point the index will remain bullish and below it, the index will find support at 5821, 5788 and 5766.
However, our outlook is that we are not out of the woods yet, but Nifty may remain strong today with possible resistances at 5955, 6013 and 6121.
Intra-day traders may ride the bull.
Short-term traders may wait and watch.
Mid-term investors too may wait and watch.
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