VWAP is 6070. The gap up opening today gave little chance of a long trade in early morning trade. However, Nifty had remained range bound throughout the day and gave a small long trade from 6050 to 6066 levels and later the break of 6050 gave a short trade up to 6026. Nifty has closed much below today's VWAP level of 6070 @ 6035.65.
1) Volatility will be high with just three sessions for September series expiry and intra day play for tomorrow for going long will be employing the opening range breakout above 6068 level only for target of 6100 of spot levels. Strict stop loss will be 6052.
2) Bearish range will be triggered only if Nifty trades below 6015 level tomorrow for target of 5980-5950 with strict stop loss of of 6042.
3) Today's close at 6035 is neither bullish nor bearish and it would be hazardous to play a guessing game for trading intra day. Levels to watch tomorrow 6068 for longs and break of 6015 for going short. Happy trading!
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