VWAP is 6006 and volatility is 0.89. Nifty took off above 5966 on Friday and touched high of 6029 on spot levels and closed at 6018 with a premium of 16 points in futures. Nifty looks bullish for Monday September 27, 2010.
1) Buy zone is 5992-6029 levels for targets of 6060-6090-6108. Stop loss for intra day trade is 5980. A close above 6060 will be bullish.
2) Fall below 5966 is trigger for going short on rise with stop loss of 6037 for target of 5931-5900. This scenario is likely only with a gap down opening.
3) A range bound trading range likely to be 5977-6075 levels with positive bias.
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