Humongous - No other term can be used to described today's gapup.
Price - Only thing one needs for analysis
On 6th of april i had writen, nifty might have defined a new range. See this .
Now we are almost at the other end of the spectrum in that chart. 3775 is the value of upper horizontal line.
For tuesday trading
Bull Level
Buy nifty future at retracement level of 3635 with 3615 as stoploss for targets 3660, 3675, 3695
Bear Level
Short nifty future at 3705 with stoploss at 3725 for targets 3675, 3655, 3645
ACC in trouble
In case of a gapup, if ACC fails to cross todays high of 682 in futures, it will fall prey to the starving bears.
On break of 638, fall to 582 shall be inevitable and rapid. Entry should be made after assessing the market conditions and with opening highs as stoploss.
