Today indices surged around 5-6%. Nifty opened at 3272 surged up sharply to make a high of 3510, closed nearly at the high of 3490. Sensex closed above at 11309.90. As i have mentioned that the Nifty has a good support at the -61.8% retracement level. On friday Nifty closed at the same level. Today it boucned back from the same level. In my last blog i have mentioned that the chart indicates that there can be bounce back, as there is a formation of the doji pattern. and the markets have entered in the over sold zone. The meeting that was held between the G-7 countries have gained some confidence in the markets. Governments across the world have moved on to help the global banks with multi-dollar bailouts.