Trade Plan - September 02, 2010

VWAP is 5447.41 up from 5385 of yesterday. Volatility is 0.75. As expected bounce above 34-DEMA of 5422 happened today.  Last Friday high of 5495.50 needs to be scaled up  first for confirmation of further upside and new highs of Nifty now. Thus buy zone for September 2, 2010 should be above 5489-5496-5500 levels only for a target of 5515-5530. Strict stop loss of 5470. If there is gap down opening tomorrow, then buying above 5445(closing VWAP levels and 5 DEMA) for a target of 5470 is possible intraday with a strict stop loss of 5430.