FBI clearing Hilary Clinton sparked global rally, basically a broad relief rally as hopes of Clinton victory strengthens.Asia traded higher with India having a gap up opening above the crucial 8500 mark.
Nifty traded higher throughout the session on short covering but failed to take out 8550 on the upper side which could have changed the whole perception until last 30 mins where fresh shorts or selling pushed the index back below 8500 testing the support of 8480 finally closing at 8497.
After the large gap up , no incremental buying was visible which created doubts over the longevity and stability of the pullback.
Uncertain global scenario still maintains a cloud over the direction of the market with American election results due within 48 hrs which may create a knee jerk reaction on either side with large gaps.
America opened higher and extended gains aiding European Markets to have a strong closing.