If you frequently track gaps in Nifty Metal (Spot) you would understand that there are so far 10 unfaded gaps since the start of March 2016. Current leg of rally is almost 10 months old and during this leg we had hardly made only 5 gap downs, 23 gap ups and 10 unfaded gap ups. which indicates that we are in a emotional buyers market.
Sensex in February month had lost almost 6.9% and this is the 6th consecutive month sensex is making lower lows and lower highs. And the current down slide from OCT 2015 had left 4 gaps left unfilled in Sensex around 27318, 25357, 24196, 23361. So are we testing the first gap zone 23361 this Budget 2016?