Great victory for bulls!! Will this last long ?!!

It was a remarkable day in the history of markets yesterday. Bulls were extremely ferocious and also there were allround participation. They were able to conquer all the near term resistance level with ease and that too in the opening itself and bears did not have a chace to even run for cover.

Given the strong positioning of bulls, again the question of "why would one leave the strong hold so soon and let bears win too soon comes to the mind again".

The 3 day volumes have seen an increase, but still less than what it was when 3500 levels were taken by bulls 10 days back. 

Though this run up has defied the gravity, it looks like this still has steam to push to the levels of 3708, 3780 levels. Beyond 3790 levels, it outlook will turn cautious and I would rather be looking for a reversal confirmation than continuing to be a bull.

The resistance levels are 3708, 3780 and support levels are 3630, 3595

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Happy Trading
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