VWAP is 5620.17 and volatility is 0.76. Nifty failed to close above 5651 on Thursday but is still mildly bullish with close above 5632.
1) Bullish zone is 5607-5632-5655-5705 levels. Intra day break out level to watch is 5655 levels. Close above 5655 is bullish. Strict stop loss for intra day longs is 5595.
2) Bearish trade set up will be 5630-5590-5545-5520 levels. Break down level to watch intra day is Nifty trading below 5589. Close below 5589 is bearish. Strict stop loss for intra day shorts is 5639.
3) Range bound trading set up will be between 5590-5650 levels.
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