A gap up opening at 6100 and touched a high of 6151 and failed to sustain above 6135 and retested 6100 opening levels for the rest of the session. Significant resistance at 6120 levels seen. VWAP @ close is 6147. Nifty spot closes @ 6106 below closing VWAP.
1) Views otherwise remains unchanged with 6135 (6162 in futures) being the spot value to go long for target of 6200-6240.
2) Now break of 6094 (below today's low) seems to be a good area to go short first for target of 6060 and 6020 intra day.
3) This week should see break of either 6150 for an upside target of 6250-6300 or break of 6060 for a downside target of 5970 (34-DEMA)-5900. There is quite a lot of selling pressure above 6135 as seen today. Today's close though in green does not conclusively give any indication of the way October series is going to close.
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