VWAP is 5552.88 and volatility is 0.81. Nifty had a gap up opening and gave a breakout above 5525 today to close at 5476 levels.
1. Tomorrow, September 07, 2010 could be a rangebound day with high volatility and whipsaws and will give good chance for both long and short positions.
2. The bullish zone if momentum continues will be above 5587-5595 levels only for a target of 5620-5640. In such a scenario strict stop loss for longs will be 5563.
3. If gap down opening, then the range could be between 5515-5597 levels. Strict stop loss in such a scenario will be 5500.
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