Trade Plan - August 31, 2010

VWAP is 5430.70. Volatility is 0.72.  Nifty still in downtrend as two consecutive closes have been below 5430 levels.  Today Nifty has closed below 34-day EMA level of 5422 which again confirms downtrend. For intraday  a quick 25 point gain can be made if Nifty trades above 5446 levels and goes up to 5475 levels. Strict stop loss will be 5422. A close above 5475 level will be mildly bullish.