Hello Traders,
the NIFTY50 hasn't closed the gap yet. Instead it has risen to a 3-week high @ 24366 on a closing basis. It has reached again an area of a FVG and popped above into an Order-blog!
This could be a start of a new advance. If so to come, a new wave of advance is underway and will lead N50 to new high's in the coming weeks.
A possible scenario for the coming 2-3 sessions could be, that N50 will move sideways into a correction and will retrace to a .0382 Fibo of the last advance. This high was made @ 24429 and the target for this correction would be at or around the 24315-24281 area.
The bulls have to watch if N50 is likely to catch the Order-blog at the coming sessions (@24423-24531! At this level we have to look for the arguments to one (higher) or other (lower) side.
So the update will get online if this scenario occurrs.
Have a great Sunday.....
Ruebennase

Please ask or comment as appropriate.
Trade on this analysis at your own risk