Trade Plan - September 03, 2010

VWAP is 5493.08 and volatility is 0.73. Today Nifty traded in a very narrow range and closed flat in today's buy zone @5486, but gave a prelude of two outcomes likely tomorrow on September 3, 2010. If Nifty sustains above 5500 levels, then new highs of 2010 could be achieved tomorrow. Keeping this view first, buy zone will be 5485-5500-5510 only with a strict stop loss of 5474 for a target of 5534-5568. A gap down opening will give an opportunity to buy above 5458 only with a strict stop loss of 5443 for a target of 5480-5495-5510 levels.