We were waiting for target 7900+ .. Today's price movement till our first 2nd target 7940. If cross above 50 / DMA Or 7940 - More rally on card till upper channel till 8040+.
Hourly Chart - Says support @ 7738 & 7704. With 100 and 50 Hour Moving Average, if holds, May again get strength for an upmove...though expecting more rally soon towards 7900+ Have patience.
Tomorrow is very important day for Nifty closing. As per technical chart go short with SL 7730.
But.... If Nifty close above 7740 then close all shorts and go long for target 7900-8030.
A Gap down opening, thought price managed to hold above 7590 and 7540, shows a possible recovery soon. News flow like RBI meet with Bankers, GST Out come from Congress and Fed Out come may decide the next move.