In the last update i had reservations about the move being able to cross 7600 ( 61.8 % ) levels and going towards the upper end of the channel. Since the index crossed 7600 the next technical target comes to the channel top at 8300-8550 roughly. Till it holds 7700 levels we can expect a test of the upper channel in short term.
Once the index reaches those levels one needs to be cautious over the world markets.
Gold weakness continues to remain with it hovering around the 880 mark. Lets c if it can convincingly break 865-885 zone and the next target would be 845/810. Upsides would face resistance at 905/920.
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