As given in this column yesterday, the markets did bounce back smartly from the gap-down opening.
The Sensex & the Nifty rose ~830 & ~240 points respectively from the day lows.
The targets of 53950/16223 seem to be well within reach.
Aggressive as well as conservative traders can remain long/add to their longs on every dip.
The positive/bullish market setup will be negated only if the markets close below 51601/15455 for 2 consecutive days.